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    Home»Stock Market»How London Stock Exchange lost the battle for IPOs
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    How London Stock Exchange lost the battle for IPOs

    December 14, 20251 Min Read


    Dec 14, 2025 – 8.35am

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    As his countrymen were going down in the Brisbane Ashes Test, Tristan Pottas was exploring the red sands of the Northern Territory, hoping to repay the faith of his investors back in Britain.

    First Development Resources, a rare earths and gold explorer that Pottas helms, listed on the London Stock Exchange’s Alternative Investment Market (AIM) this year, a rare event for the venerable Square Mile as companies shun the traditional initial public offering (IPO) route.

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