London Stock Exchange Set to Welcome €19 Billion Euro Tech Giant Visma

In a significant boost for the City of London, Norwegian software powerhouse Visma has provisionally selected the UK capital for its anticipated public listing, favouring it over Amsterdam. The €19 billion business software group’s decision hinges on the implementation of crucial stock exchange reforms designed to counterbalance Brexit-related complications.

The Oslo-based technology firm, which generated €2.8 billion in revenue last year and serves more than two million customers, would provide a welcome injection of confidence into London’s struggling IPO market. The potential listing comes at a critical time, following a series of high-profile departures from the London Stock Exchange.

Nikhil Rathi, chief executive of the Financial Conduct Authority, has emphasised the need to “reset the psychology” surrounding UK markets, urging British businesses to celebrate their strengths rather than succumb to modesty. His rallying cry comes as London faces increasing competition from global financial centres, particularly New York.

The choice of London by Visma, which has been under HG’s ownership since 2006, was influenced by the city’s deeper capital markets and UK-centric investor base. The decision represents a potential turning point for the London market, which saw only 18 flotations last year amid 88 delistings, according to EY data.

The timing of Visma’s listing remains subject to the successful implementation of planned reforms, including provisions for euro-denominated share prices within FTSE indices. This development could mark the beginning of a renewed confidence in London’s status as a premier global financial centre.