WANdisco in ‘early stages’ of US listing as another city firm rejects London for a New York flotation
Data giant WANdisco has confirmed that it is in the “early stages” of preparing to list its shares in the US, however has reaffirmed its commitment to London’s investment market.
The £1bn software group was responding to rumours that the group was preparing to list its shares in the US amid an ongoing debate about the dwindling attractiveness of the London market to public companies.
According to reports first published in Sky News, the company, which is dually headquartered in California and Sheffield, was eying a listing across the pond due to “growing fears” about the City market’s ability to compete with the “far deeper pools of capital available to companies in the US”.
However, WANdisco said this morning that it has “long-stated” its intention to consider an additional listing of its ordinary shares in the United States with the company in the beginning stages of “proactively” exploring this option.
“The Company also confirms that it remains committed to London’s Alternative Investment Market (“AIM”) and to maintaining its current UK AIM listing,” WANdisco said.
It is understood that the London-listed firm has hired Evercore Partners to prepare for a listing in New York.
It comes as Flutter Entertainment – the gambling group behind Paddy Power – revealed it was in extensive talks with its shareholders to add an additional US listing of Flutter’s ordinary shares to “reap capital market benefits”.
Furthermore, plumbing supplier Ferguson, moved its main listing to the US last year.