Bankers and exchange officials in the UK are using a vicious recent sell-off in US-listed groups to boost their efforts to promote London listings and convince star companies not to go public overseas.
European private boards and shareholders have been increasingly drawn to the US by the promise of higher valuations and an investor base that has more appreciation of fast-growing but lossmaking companies.
However, data from Dealogic and analysis by the Financial Times show that large European companies, excluding those from Russia, that list in the US have consistently underperformed compared to domestic US listings and peers that remain in Europe, and have been particularly badly hit by the recent stock market downturn.