Trying to grow our own Apples, Googles and Amazons

The LSE's new high growth segment.

With the launch of the London Stock Exchange’s High Growth Segment set for March, it appears that UK technology companies of all sizes will have a domestic listing to suit their needs. The High Growth Segment has been launched to appeal to technology and other growth companies that want to list in London but may not wish to apply for a Premium Listing (be it for eligibility or regulatory reasons) but would like an alternative to AIM, the London Stock Exchange’s junior market..

There is a popular belief that the UK capital markets are not supportive of technology companies and that there has been a flight of UK technology companies to list in the US. However, our analysis indicates that in fact no UK technology companies have listed in the US in the last three years; whereas during the same period more than 30 UK technology companies listed on AIM.

It appears, then, that smaller UK technology companies have already recognised the appeal of listing in London rather than in the US.

Smaller UK technology companies have, for some while, been choosing London rather than the US as their preferred listing destination and AIM can be seen to be doing its job as an incubator for UK companies. At the same time there has been a paucity of listings of larger companies both here and in the US. What is exciting about the launch of the High Growth Segment is that larger UK technology and other growth companies now have a real alternative to a Premium listing or joining AIM.

This can only be a good thing for London. Indeed, the London Stock Exchange has opened the High Growth Segment up to companies that are incorporated anywhere in the EEA, not just the UK. The expectation is, therefore, that European companies will also consider joining the High Growth Segment, further demonstrating London’s position as the leading European equity market.

What is key to this new initiative is that it provides another option to larger technology companies who wish to raise capital. UK technology companies have largely sought growth funding from the debt markets or from private equity. The High Growth Segment offers a real funding alternative.

The rest of this article can be read on economia.

John Hammond is an equity capital markets partner at Deloitte.

The right enviroment for a new Google? Photograph: Getty Images
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The government's motion on bombing Syria

Read the full text.

That this house:

Notes that Isil poses a direct threat to the United Kingdom

Welcomes United Nations Security Council Resolution 2249 which determines that Isil constitutes an ‘unprecedented threat to international peace and security’ and calls on states to take ‘all necessary measures’ to prevent terrorist acts by Isil and to ‘eradicate the safe haven they have established over significant parts of Iraq and Syria’;

Further notes the clear legal basis to defend the UK and our allies in accordance with the UN Charter;

Notes that military action against Isil is only one component of a broader strategy to bring peace and stability to Syria;

Welcomes the renewed impetus behind the Vienna talks on a ceasefire and political settlement;

Welcomes the Government’s continuing commitment to providing humanitarian support to Syrian refugees; underlines the importance of planning for post-conflict stabilisation and reconstruction in Syria;

Welcomes the Government’s continued determination to cut Isil’s sources of finance, fighters, and weapons; notes the requests from France, the US and regional allies for UK military assistance;

Acknowledges the importance of seeking to avoid civilian casualties; using the UK’s particular capabilities;

Notes the Government will not deploy UK troops in ground combat operations;

Welcomes the Government’s commitment to provide quarterly progress reports to the House;

And accordingly supports Her Majesty’s Government in taking military action, specifically airstrikes, exclusively against Isil in Syria;

And offers its wholehearted support to Her Majesty’s Armed Forces.