One tech leader says that the UK’s stock exchange rules are not required to be relaxed in order to attract cutting-edge companies.
Government is currently reviewing the requirements that a company must meet to be listed. They want to increase the number of fast-growing companies on the London Stock Exchange.
Change: The requirements a company must fulfil to list are under review by the Government, which wants to see more fast-growing firms on the London Stock Exchange
But David Richards, the chief executive and co-founder of cloud data specialist Wandisco, said the UK markets ‘don’t need more relaxations’ given that Britain’s rules are less restrictive than those in the US, which has a thriving tech sector.
‘AIM already exists,’ said Richards, referring to the junior section of the London Stock Exchange, which has less restrictive listing rules.
Instead, Richards said, the UK needs to focus on attracting ‘the right sort’ of tech companies, more specifically those that are ‘pure’ and own intellectual property rather than platforms that are used to provide physical services or goods.
Matt Moulding was the founder and CEO of The Hut Group. According to him, the past year had been his most difficult.