The London Tunnels Amsterdam listing: A 'novelty investment' or another loss for the UK?

Industry split on relocation

The decision by The London Tunnels to list on the Euronext Amsterdam took the industry somewhat by surprise considering the company had set out plans in January to float on the London Stock Exchange.

Trading is supposed to commence today (27 June), with a market capitalisation of around £130m and a fundraising target of £30m, although £24.5m has already been "irrevocably committed" by 15 investors. The move left industry players split as to what the rationale behind shunning London for a European market may actually be. Although the FTSE All-Share was hardly affected by the decision, considering it was up 0.5% when the London Tunnels revealed its plans on Monday (24 June), Russ Mould, investment director at AJ Bell, noted the small size of the deal could be one of the reasons behi...