Why Is Starmer Boosting Private Equity Not Stocks?
It’s been another bad week for London’s status as a listing venue. A shame, then, that recent government policy has focused on private markets investing.
Sure, it would feel uncomfortable for a Labour-led administration to put a vibrant stock exchange at the heart of UK government policy. What’s share trading got to do with traditional left-wing values? The snag is that an apparent neglect of the equity market runs counter to Prime Minister Keir Starmer’s laudable ambitions to drive economic growth.
The bad news keeps trickling out. This week, the London Stock Exchange saw a failed initial public offering, the decision by fintech Wise Plc to switch its main listing to New York and a private equity takeover. Even highly controversial fast-fashion retailer Shein Group Ltd. appears to be shunning London. Gambling firm Bet365 Group Ltd. is mulling a New York IPO, the Guardian reported. Foreign bids keep coming.