Stock exchange boss warns companies that are looking at New York

The boss of the London Stock Exchange has warned companies tempted to move their listings from Britain to the US that ‘the grass is not always greener’.

Julia Hoggett said the financial market needed to stop ‘eating itself’ and urged businesses to recognize the virtues of the Square Mile.

‘Most countries in the world would aspire to have the capital markets we have. But we are not sitting on our laurels,” she added.

Hoggett, who took over the exchange in 2021, also warned that companies that defect to New York could regret it.

‘We’ve looked at what happens to UK companies that have raised more than £100m and go to the US. In the past ten years there have been only twenty.

‘Eight of them have already been delisted, only four are showing an increase and the rest have fallen by an average of 80 percent.’

Her comments come at a time of concern that more companies could be moving into the US market.

Gambling giant Flutter moved its main stock exchange listing to New York earlier this year.