David Buik is LBC's Markets Commentator and a Consultant to Aquis Exchange Firstly, New York has far greater access to the global wholesale investment community, including fund managers, than we do here in the UK. This is frustrating and disappointing for lead banks in London, with the best lawyers, and accountants on the globe that they have lost out and will continue to lose out with the very large ‘cap’ IPOS continuing to head to New York, rather than here.
So, the market has little doubt that ARM will do well in the future. It is interesting to note that New York’s other large cap listing, Kenvue, valued at $34 billion is down 26% year to date. UK investors, who missed out on the Arm listing, might be provided with an opportunity to get involved with a secondary issue in the future.