A £2billion nuclear energy start-up has revealed that London is not in its plan for a stock market listing.
In another setback to Rachel Reeves’ attempts to revitalise the City, the boss of Newcleo told the Mail that the Nasdaq in New York or the Euronext exchange in Paris look more appealing.
‘Today the top would be Nasdaq,’ said Stefano Buono. ‘Next would be Euronext.’
The decision to snub London represents another blow to the City and the Chancellor’s hopes of bolstering the UK’s reputation as a financial centre.
Snub: Newcleo boss Stefano Buono said that the Nasdaq in New York or the Euronext exchange in Paris look more appealing
Unilever last week picked Amsterdam for the ‘primary’ listing of its £13billion ice cream business.
Britain also lost out when Cambridge-based chip designer Arm chose New York over London for its stock market listing in 2023. It is now valued at £130billion.
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