RealTime IT News

It's Unofficial: New Nasdaq-style Market for UK

The London Stock Exchange has neither confirmed nor denied reports that it intends to launch a new market for technology stocks, modelled on the Nasdaq.

However, the need for such a market has been clear for some time, and reports from the BBC and leading newspapers suggest that serious plans are in the pipeline.

Among the speculation is that the market will be called Techmark and will launch as early as September this year.

A spokeswoman for the London Stock Exchange gave credence to the speculation by saying that LSE was "not ready to launch it yet."

With the growing interest in Internet stocks in the UK, a separate high-tech market is becoming essential, in the view of many observers. UK companies that currently list on Germany's Neuer Markt would certainly change if the opportunity for a London listing arose.

Since the flotation of Dixon's Freeserve in July, the city has woken up to the fact that there are other, smaller businesses without a track-record of profitability that need to raise capital. Techmark would be the natural home for UK Internet stocks with high-growth potential.