Boost for London Stock Exchange as Korean firms set for floats
The London Stock Exchange is set to experience a major boost as several South Korean firms are preparing for initial public offerings (IPOs), according to exclusive information obtained by The Mail on Sunday.
Among the potential IPO candidates are a semiconductor manufacturer and a rapidly growing chicken shop chain. It is anticipated that these three firms will join the London Stock Exchange by the summer of next year, and more South Korean companies are expected to follow suit.
The collaborative effort to connect Korean firms with investors in the City of London is led by a group called Nexfin. Nexfin, based in London, has gained a reputation in the Far East for facilitating pre-listing financing and assisting firms seeking to raise funds in Western markets. The UK government and the London Stock Exchange have also been involved in supporting these efforts.
The South Korean market holds significant potential for London, with insiders suggesting that these IPOs could be valued in the billions of pounds. Nick Davis, a representative from City law firm Memery Crystal, which is working on the IPOs, said, “The big banks are quite excited. These are potentially billion-pound listings.”
In addition to the South Korean firms, Indian companies are also exploring the possibility of listing on the London Stock Exchange as trade talks between India and the UK progress.
In focus: South Korea could represent a lucrative market for the City
Recent changes to Indian regulations allowing domestic companies to access global markets have further reinforced London’s position as a leading financial hub.
The London Stock Exchange has faced challenges this year, such as losing chip-maker Arm as it chose to list in New York, along with other UK-quoted firms moving their listings. However, the LSE’s partnership with Seoul and the agreement to facilitate the listing of major domestic companies in the UK have demonstrated London’s enduring appeal to international businesses.
Nick Davis from Memery Crystal, commenting on the interest in London listings, said, “There are some exceptional companies looking at London that perhaps would have gone to the US.”
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