Verisure, a leading provider of domestic alarm systems, is leaning towards launching a €20bn Amsterdam IPO, marking a significant shift away from London. Sources indicate that Euronext Amsterdam is emerging as the preferred destination for the listing, despite efforts from stock exchanges in London, Stockholm, and Zurich to secure the deal.
London Faces Another IPO Setback
While no final decision has been made, Verisure’s potential move to Amsterdam highlights the growing challenges facing the London Stock Exchange (LSE). Despite recent regulatory changes aimed at attracting major listings, the UK has struggled to secure high-profile IPOs, with just eight new listings in 2024. Industry insiders suggest that the final choice could still be swayed, but London’s appeal continues to wane amid a wave of companies shifting away from the UK market.
Verisure’s Growth and Valuation
Verisure, majority-owned by private equity giant Hellman & Friedman (H&F), is expected to be valued at over €20bn, with some estimates reaching as high as €30bn (£25.2bn). The company operates in 17 countries, including the UK, Brazil, Chile, Italy, and the Netherlands, and has transformed into a subscription-based business under CEO Austin Lally.
IPO Market Shift and London’s Declining Influence
The news of Verisure’s potential Amsterdam IPO comes at a time when London’s stock market is facing increasing competition. Recent high-profile listings, such as Flutter Entertainment’s move to the US and Ashtead’s planned relocation to New York, reflect a broader trend of major companies drifting away from London.
What’s Next for Verisure?
With investment banks vying for a role in the IPO, the final decision on Verisure’s listing venue is expected next year. As London struggles to regain its status as a top financial hub, the Verisure IPO could serve as another indicator of shifting global market dynamics.
