- The shares will provide a much-needed boost to the city
- London is on course for the worst year for corporate output since the financial crisis
- Canal+ will be valued at £5bn when its shares start trading
French television and film giant Canal+ will make its debut on the London Stock Exchange today in a victory for Britain’s struggling market.
Shares in the Paddington developer will provide a much-needed boost after data showed the London stock market is on course for its worst year for corporate output since the crisis. of the fund.
Canal+ predicts it will be valued at £5billion when its shares start trading. News of his arrival was highlighted last week by Chancellor Rachel Reeves, who hailed a ‘vote of confidence’ in the UK.
But other London-listed firms are less optimistic, often moving overseas or failing to take up offers.
Construction equipment leasing company Ashtead, which has a market value of £23 billion, is the latest London-listed company to go public, saying it will move its initial listing to the US stock market. It joins 88 companies that have delisted or moved their initial listings from London’s main stock market this year, the worst departure since the 2009 financial crisis, the FT reported.
Some of the biggest exits this year include gaming group Flutter, which moved its main listing to the US, and download platform Just Eat. Some have failed to take them out of the public market.
Another port in the storm: Canal+ is expected to be worth £5bn when shares start trading.
Cybersecurity group Darktrace is among those that have agreed to buy deals with private equity firms this year. And ministers are considering whether to approve a takeover bid for Royal Mail from Czech tycoon Daniel Krentinsky, the largest shareholder in the group’s London-based parent IDS.
London is struggling to attract business, with Canal+ coming in amid what are believed to be the fewest new listings in 15 years. City needs to work to make London better for business.
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