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Jeremy Fennema – Tech Innovation Alchemist
What’s going on:
IWG looks as though it could become the latest shared office space to get rid of its UK listing for New York.
This development follows the trend of a growing number of big companies snubbing the London Stock Exchange and changing their listing to Wall Street.
Why it matters:
IWG CEO Mark Dixon said IWG was among many UK firms that are considering relocating to America, due to market conditions.
IWG is also considering converting its accounts from pounds into dollars this year.
How it’ll impact the future:
Dixon said that this is occurring due to concerns over the volatility of sterling, namely after last year’s mini-Budget — which triggered a dramatic decline in the British pound.
He said that more than 50% of IWG’s business now come from the United States, which may be another driving factor for this change.
