An insurance firm is swerving London for a £3.15billion listing in New York.
Although Aspen is domiciled in Bermuda, more than half of its 1,100-strong workforce are based in the City of London.
But the insurer is joining a slew of firms that have shunned the London stock market owing to weak valuations and tough listing requirements in the UK.
Aspen is working with investment banks on an IPO planned for the first half of 2024, The Sunday Times reported.
It has a familiarity with the US as its shares traded there until it was bought by private equity firm Apollo in 2018.
Concern: Aspen is joining a slew of firms that have shunned the London stock market
There have been worries over the City’s standing after a wave of decisions by companies to head to Wall Street.
The UK lost out on a hard-fought battle to persuade British chip designer Arm to list in London.
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