LSE sees best month for flotations in four years, with Sarbox a probable cause
A reluctance to grapple with the onerous corporate governance rules in the US may have contributed to the London Stock Exchange's best month for flotations in four years.
June saw 15 IPOs on the LSE’s main market raising £1.9bn, the highest value since July 2001. But as well as the attractions of liquidity on UK markets, some companies are choosing London because of regulation that is much less burdensome than in the US and its now infamous Sarbanes-Oxley Act.
Martin Graham, director of the LSE’s market services, said that ‘Sarbanes-Oxley has undoubtedly assisted our efforts’, and emphasised the market’s ability to draw new listings from foreign companies.
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