Hewlett-Packard UK Ltd responded to a report in Friday’s Daily Telegraph that it was considering flotation of a minority in the UK subsidiary on the London Stock Exchange by saying that it was an option regularly discussed at board meetings – but that it was very unlikely to happen this year. It appears that opinions within the company are divided on the idea, with some strongly in favour, others not seeing much benefit. Flotation of perhaps 25% of the UK company would be widely welcomed in the City, because so few of the major players in the UK computer market report local figures in any detail. The degree of disclosure that would be required would enable analysts to get a better feel for market trends as a whole, as well as increasing the visibility of and interest in Hewlett-Packard. The only US computer company that has floated its UK subsidiary so far is Martin-Marietta Corp, which in 1986 floated 25% of the equity of Hoskyns Group Plc on the London Stock Exchange.
