Proactive Investors – GSK PLC (LON:) has issued its support to the flagging London market, stating that it is “unequivocally, 100 per cent committed” to keeping its listing in the UK.
Speaking at the Time CEO Summit, boss Emma Walmsley said that even though only 3% of its business is in Britain, GSK switching its listing was “not a debate for us.”
“We have nine sites. We’ve got factories from Montrose to Worthing. We have 11,000 people and we have 300 apprentices every single year,” she said.
Despite having referred to herself as a “globalist” who has experience working across the planet, the pharma giant boss has turned her attention to the capital.
“We’re just about to open, next month, our new global headquarters in central London because this can be a great magnet and attraction for talent,” Walmsley added.
David Schwimmer, CEO of the London Stock Exchange Group (LON:), also addressed the summit, countering claims that New York offers superior valuation for listings.
“If you look at the facts, there is no factual evidence for valuation difference in terms of going to the US for a listing,” he said.
“And there are many reasons why London is a very attractive environment and there are many reasons why it’s becoming an ever more attractive environment.
‘Nikhil and the FCA are leading the most significant reforms for the UK markets in 40 years and that should be coming in the next couple of weeks.”
