Vienna-based cryptocurrency exchange Bitpanda has determined it will not pursue a public listing on the London Stock Exchange (LSE).
In a statement to the Financial Times, Co-Founder Eric Demuth identified weak liquidity on the LSE as a decisive factor in this strategic decision. The company is presently evaluating alternative listing venues, including Frankfurt and New York, though a definitive timeline has not been established.
This decision occurs within a context of a significant decline in UK IPO activity. Market data indicates that capital raised through London listings in the first half of the year fell to a 30-year low, a trend further evidenced by companies such as Wise opting to list or transfer their listings to other international exchanges.
