Once upon a time, if you were an emerging market company – domiciled in Russia or India, for example – looking for exposure to global investors via an international listing, your choices were rather limited; essentially boiling down to the transatlantic rivals of London or New York.
London Stock Exchange (LSE) in particular took full advantage of the opportunity to establish itself in a dominant position for international listings – one that it still enjoys today. Of the 2600 companies listed on its markets, about 600 are domiciled outside of the UK. Meanwhile, its Alternative Investment Market (AIM) is the pre-eminent international order book for smaller firms.
