Is London left behind in IPOs?

By:
on Feb 29, 2024
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  • LSEG chief executive expects more IPOs to come to London this year.
  • David Schwimmer explained why in an interview with CNBC today.
  • LSEG ended slightly in red after reporting earnings for 2023 on Thursday.

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There’s an “encouraging pipeline” of initial public offerings in London, says David Schwimmer – chief executive of the London Stock Exchange Group (LON: LSEG).

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Schwimmer shares his view on IPO market

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Notable names including Arm Holdings, Cava Group, and Instacart have listed in the U.S. in recent months. But Schwimmer expressed confidence today that the United Kingdom is not left behind either.

Earlier this week, Shein – a fast fashion retail giant based out of Singapore was reported considering a listing in London after facing regulatory and legal challenges in New York.

While he refrained from discussing Shein in particular, the chief executive did express confidence this morning in the “high listing standards of the U.K. under the oversight of the FCA”.

$LSEG is currently up about 20% versus its 52-week low.

LSEG also reported earnings for 2023 today

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David Schwimmer of London Stock Exchange Group expects more IPOs to come to London because the environment is now “much better than last few years”.

On Thursday, the financial information behemoth also reported in-line preliminary earnings for 2023 and announced plans of repurchasing $1.27 billion worth of its stock this year.

Analysts at Citi talked of “long-term re-rating potential” in a research note following the financial results that $LSEG reported today.  

CEO Schwimmer also confirmed on his interview with CNBC today that LSEG is set to launch “pilot version” of an AI product it built with Microsoft Corp in the coming months.

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