Thursday, December 16, 2004

London Poised to Take on Big Apple IPOs (Free registration required)

The initial public offering of China's flagship airline, Air China, this week on the London Stock Exchange could be a harbinger of emerging companies going to the City rather than Wall Street to raise capital.

While Air China was only the fifth Chinese company to list shares in London, and one of 10 emerging markets IPOs in 2004, bankers and consultants say 2005 will be a banner year for IPOs in London, because the U.S. regulatory regime is too onerous for many eastern European and Asian companies.

"We expect several more emerging markets IPOs in London," said Tony Fry, a partner with consultancy KPMG.

For years London has vied, with limited success, with New York for foreign companies that crave the veneer of corporate respectability that a listing on a major exchange can offer.

But the combination of new corporate governance rules as defined by the Sarbanes-Oxley Act and what is perceived as the insular nature of the U.S. markets has pushed some foreign companies to turn to London.

London Poised to Take on Big Apple IPOs (Free registration required)

Send to a friend:

0 Comments:

Post a Comment

<< Home

Previous articles

SEC to study small companies' Sarbanes-Oxley costs...

Line56.com: The Strategy of Controls

Sarbox and BPO Present Problems

Sarbanes-Oxley: Killing Enterprise to Save It

TEOCO receives coveted SAS 70 Type II Certificatio...

It's Time to Take Your SOX Off

Will Merger Mania Extend to 2005?

Companies 'going dark' lose value

Business Groups Begin Quiet Campaign to Oust SEC's...

CFOs Upbeat on Economy; Expect Jump in Capital, Te...