Indian firms make a beeline to enlist on LSE

Our Markets Bureau

Hyderabad, Sept 12: After the New York Stock Exchange (NYSE) and Nasdaq, it is now the London Stock Exchange (LSE) the Indian corporates are attracted to for listing their stocks and to mobilise funds for pursuing their expansion plans.

According to India International Business Development country manager Deborah Medley Foye, about 10-20 companies are in contact with the LSE soliciting listing.

“Some big corporates in Andhra Pradesh are also in talks with LSE from IT, telecom, oil & gas, pharma and biotech sectors,” she said.
So far, about 19 companies from India have registered with the exchange raising a total of $2.8 billion. Last year, LSE signed a memorandum of understanding (MoU) with the National Stock Exchange (NSE) and The Stock Exchange, Mumbai (BSE) for closer cooperation and to encourage more Indian companies to list on the LSE, she added.

She stressed that no company has delisted from the exchange.

Highlighting about the success strategies, she said: “LSE plans to be the leading organisation in Europe to shape the globalisation of capital markets through technology links for creating value for the share- holders.”

The three attractive reasons for a company getting listed on LSE are:
* helps in raising capital with London being the single largest location
* improving liquidity in the trading market
* creating visibility and prestige for the listed company
LSE is planning new customer focussed initiatives like reduced admission fee for international companies, listing authority rules tailor-made for international companies, liquid trading markets for international agencies and enhanced information services, Ms Foye added.