Britain has seen companies departing from the country for a few years now, opting instead to list in New York over London. British chip-maker Arm is a case in point, as it recently made its public debut on the American tech-heavy Nasdaq index, valued at about $55 billion. This trend has got many observers speculating that London may be losing its attractiveness as an investment hub.
But the chief of London Stock Exchange Group, which runs Europe’s major stock exchange in London, has slammed such criticism, arguing that the English capital remains a key financial destination.
