NYSE Is Trying to Get Japanese Companies to List in the US
(Bloomberg) -- The New York Stock Exchange is actively engaged with a pipeline of Japanese companies, some of which may consider a US listing over the next 18 months, according to the bourse’s vice chairman.
Most Read from Bloomberg
US Slams Strikes on Russia Oil Refineries as Risk to Oil Markets
Bond Trader Places Record Futures Bet on Eve of Inflation Data
US Core CPI Tops Forecasts Again, Likely Delaying Fed Rate Cuts
Some of these companies are in the technology and health-care sectors, Vice Chairman John Tuttle said in an interview in Tokyo. They are at different stages of growth, and some are “quite sizable” and expanding quickly, he said, without providing further details.
Global funds have turned optimistic on Japanese stocks over the past year, on expectation shareholder returns will improve. A weaker yen also helped boost exporter shares, though that has shaved off US dollar-based returns. Even with the booming market, Japanese startups have been turning to the US where institutional investors are more willing to bet on innovative technologies.
While Japan’s local markets can meet companies’ needs for capital, the US is attracting “those companies that want access to the broadest pool of institutional investors, those that want that US-dollar denominated share currency,” he said.
It’s not just Japanese companies looking to list in the US, Tuttle said. There are “exciting companies” from South Korea, Indonesia and Singapore from across various sectors, he said.
Most Read from Bloomberg Businessweek
How Bluey Became a $2 Billion Smash Hit—With an Uncertain Future
Everyone Is Rich, No One Is Happy. The Pro Golf Drama Is Back
Toyota Aims to Beat Hyundai and Ford With Its All-New 4Runner
Power Bills Will Keep Rising Even After the Fed Tames Inflation
©2024 Bloomberg L.P.