Live Breaking News & Updates on With New York Listed

The UK is considering reforming the rules regarding blank-cheque companies, which could entice fast-growth tech firms to list in London. But there are risks for investors
May 05, 2021
Rich McEachran
Cazoo is one of a number of UK firms that opted to go public in New York via a SPAC
When online used car dealer Cazoo, the fastest UK firm to achieve unicorn status, announced it would be going public on the New York Stock Exchange via a $7 billion merger with a special purpose acquisition company (SPAC), the news was considered a blow to the City of London. 
Cazoo isn’t the first UK company to snub London in favour of New York. Electric vehicle firm Arrival announced it was going public via a SPAC last year and made its Nasdaq debut on March 25. Meanwhile, diagnostic test manufacturer LumiraDx is also set to float on the Nasdaq in a $5-billion SPAC deal.  ....

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