View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
  2. Software
March 7, 2017

Misys mulls New York IPO after sinking London float

Britain has fallen to fifth place in the IPO rankings, and must think fast to hold on

By Tom Ball

UK financial software company Misys is now eyeing up New York as a possible listing venue for an IPO that was previously destined for London.

Initially, Misys had a £5.5bn float in place on the London Stock Exchange, but the IPO was withdrawn amid Brexit fears and market instability.

The change of direction will be of concern to many as the current market is yet to pick up following the Brexit vote, not indicative of confidence in a Britain separate from the EU. Had the plan gone ahead, the plan would have been one of London’s most substantial stock market IPOs of the year.

The company has shown a growing interest in putting down roots in the U.S., having recently announced plans to take up new offices in Manhattan. Founded in London in 1979, Mysis was listed in the UK until 2012 when it became private.

Brexit

The seeming extraction of this company from London aligns with the recent UK fall in the IPO rankings, now down to fifth place. The situation has prompted a recent proposal by The Financial Conduct Authority to reform IPO rules.

A recent report conducted by job search marketplace Hired outlined the Brexit immigration implications as an integral risk factor for the tech industry, as Britain is not currently producing enough tech talent to meet the demand of the industry at present.

Content from our partners
Sherif Tawfik: The Middle East and Africa are ready to lead on the climate
What to look for in a modern ERP system
How tech leaders can keep energy costs down and meet efficiency goals
READ NOW: Brexit immigration restrictions to put a choke hold on UK tech growth

Mehul Patel, CEO of Hired said: “The UK has seen flat or declining engineering graduates over the last couple of decades”. This indicates that an effort must be made to influence the general culture surrounding tech in Britain, encouraging careers and raising awareness to its importance.

However there is a counterargument, with high profile figures such as the CEO of Apple, Tim Cook showing confidence in Britain’s ability to thrive after Brexit, who has expressed a commitment to setting up a new HQ in Battersea.

Topics in this article : , , , , ,
Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU