Press releases 2002
24 May 2002
LONDON STOCK EXCHANGE ESTABLISHES
NORDIC PRESENCE
The London Stock Exchange announced today that it has established a local presence for the Nordic region, following 12 months of intense marketing activity and an increasing commitment to the region.
The new representative office, to be based in Stockholm, will allow Nordic companies to remain local yet to benefit fully from being on the world's most international exchange, including access to London's capital, liquidity and visibility.
The new representative office is being opened following extensive market research, which includes more than 100 in-depth interviews with senior representatives of local issuers, brokers and advisors.
The Exchange's representative agent will provide a local Nordic presence, enabling issuers, brokers and advisers to get information, advice and support from people who are experienced in the local law and regulation and knowledgeable about the advantages of the London offering.
Mark Harries, Head of Primary Markets Development at the Exchange, commented:
"Our objective is to emerge as the market of choice for Nordic growth companies. This initiative will accelerate the growth of our Nordic business. It is the first time that we have established an overseas operation such as this and that clearly demonstrates our long-term commitment to the region."
The local office will be responsible for the marketing and promotion of the Exchange's products together with the provision of local support to potential and existing customers in the region.
Marcus Hamberg, the Regional Manager at the Exchange's new Nordic office, said:
"The London Stock Exchange has developed a service offering that is tailor-made to the needs of Nordic companies. This initiative provides issuers with the best of two worlds; retained local Nordic profile in combination with efficient access to the London financial markets."
The new Nordic representative office is due to begin operation in October.
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Notes to editors:
The Nordic representative office has been outsourced to MPS Marknadsplatstjnster AB headed by Mr. Marcus Hamberg, formerly CEO of Mangold AB and Senior Vice President of OM Gruppen AB. The agent will be supported by a dedicated website, which will be based on the Exchange's landMARK concept.
The London Stock Exchange has been active in the Nordic region for the last 12 months. Key events in this time have included:
- Going Public seminar - May 2001
- Appointment of first Nordic NOMAD - March 2002
- The London Advantage seminar - April 2002
There are currently 17 companies from the Nordic region listed in London of which 9 are from Sweden. This excludes London-listed Amersham, Astrazeneca and Axis-Shield, which are incorporated in the UK.
The benefits of a London listing for Nordic companies include:
High profile and visibility - for small or large companies.
More analysts specialised in following healthcare and smaller growth companies than any other European centre, good media coverage, inclusion in Exchange data feeds to over 100,000 professional data terminals worldwide and specialised markets to raise the profile of different types of companies.
Access to capital and liquidity
More international equity funds under management in London than any other financial centre. Almost twice as much international trading reported by firms in London than on Nasdaq, NYSE, Euronext and Deutsche Brse combined.
Convenient time zone
Investor relations are important, it is more convenient for Nordic companies to service investors in London than New York.
High regulatory standards
High regulatory standards are essential for investor confidence. They also mean that Nordic companies listed in London will have a well-respected 'seal of approval'.