Adtech firm Tremor mulls ditching London listing to head for New York
Advertising Technology company Tremor International is considering ditching its London listing, according to a report.
The group is chewing over the possibility of moving its listing to New York instead, Sky News reported.
Discussions about the move are ongoing, but a decision could be reached before Tremor’s next annual shareholder meeting that is set to take place next month, the report said.
Tremor declined comment on the report.
If the move goes ahead it would be another blow to London’s capital markets. A number of firms have ditched or considered cancelling their London listings in recent months, while others have snubbed the City for New York when it comes to IPOs.
US-focused insurance broker Marsh McLennan said this week that it planned to cancel its London listing because the “costs and administrative burden” were “disproportionate to the benefits”.
Another high-profile departure could also be on the cards after YouGov’s boss said in August he was considering switching the company’s listing to New York.
“I think the markets are better at supporting companies like ours there,” the data firm’s chief Stephan Shakespeare said in an interview with the Financial Times.
Earlier this year, the world’s largest building materials group CRH decided to switch its primary listing from London to New York.
London’s struggles have ignited major reform efforts by City regulators and officials in a bid to make the City’s markets more attractive.
The boss of the London Stock Exchange Group, Julia Hoggett, is one of the top figures leading the reform efforts.
She told City PM in September: “We should fight for every listing that we think there is a strong UK proposition for. And we shouldn’t be shy about saying it.”