Norwegian Tech Giant’s Move Boosts UK Financial Hub Amid Post-Brexit Competition

In a boost for the City of London’s post-Brexit standing, Norwegian software group Visma has chosen the UK capital over Amsterdam for its highly anticipated initial public offering (IPO). The decision, confirmed by company officials on Monday, marks a significant endorsement of London’s stock market at a time when it is facing increasing competition from European rivals.

Valued at more than €20 billion, Visma is considered one of Europe’s largest and most promising tech firms. The company specializes in cloud-based business software and services, and its listing is expected to be one of the most high-profile European tech IPOs in recent years.

“London provides the global reach, financial depth, and investor familiarity we were looking for,” said Visma CEO Merete Hverven. “While we seriously considered Amsterdam, the UK’s institutional investor base and our long-term ambitions made London the logical choice.”

The announcement comes amid mounting concerns that London’s appeal as a listing venue has diminished since the UK’s exit from the European Union. Several high-growth European companies had recently opted for Amsterdam, Paris, or New York, raising fears of a capital markets exodus. Visma’s choice could signal a reversal of that trend, or at least a renewed confidence in London’s tech sector credentials.

Chancellor of the Exchequer Rachel Reeves welcomed the news, calling it “a vote of confidence in Britain’s financial future.” She added that the government remains committed to “creating a competitive and innovative environment for global firms to grow and go public.”

Sources close to the decision said London’s improved listing framework, combined with active outreach from the London Stock Exchange and UK regulators, played a crucial role. Amendments to prospectus rules and dual-class share structures have made the LSE more attractive to fast-growing, founder-led firms.

Amsterdam, while a strong contender, reportedly lost out due to regulatory uncertainty and a more fragmented investor base. Some analysts believe Visma’s move could encourage other tech unicorns to consider London, particularly those eyeing access to deeper pools of capital.

However, not all observers are convinced the decision reflects a broader trend. “This is certainly a win for London,” said Sophie van Loon, an equity strategist at Global Markets Advisory. “But one listing doesn’t undo the structural challenges the City faces post-Brexit. It’s still a very competitive landscape.”

Visma’s IPO is slated for the fourth quarter of the year, with the company expected to raise upwards of €2 billion. A final valuation will depend on market conditions at the time of pricing. Investors anticipate strong interest given Visma’s growth trajectory and profitability, particularly in the Nordic region and across Europe’s small- and medium-sized enterprise (SME) sector.

The firm has expanded aggressively in recent years through acquisitions and product development, serving more than 1.5 million customers across 20 countries. Analysts point to its recurring revenue model, robust margins, and scalable software-as-a-service (SaaS) offerings as key strengths.

For London, the listing could become a flagship moment—proof that the city can still attract elite tech players despite the turbulence of recent years. Whether it becomes a springboard for further listings remains to be seen.

For now, Visma’s move to the UK capital offers a much-needed morale boost to London’s equity markets and a reminder that, even in a fractured European landscape, financial gravity still pulls toward the Thames.