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America Loses $20B Tech IPO to… Brexitland?!

Photographer by Factabot

Norwegian software giant Visma just picked London—yes, Brexit-broke, fish-flinging London—for its IPO over the U.S. Wall Street’s having an identity crisis while the UK celebrates like it’s still got an empire.

In a move that’s giving Wall Street an existential crisis, Norwegian software giant Visma has chosen London over New York for its $20 billion IPO.

Yes, London—the same city that’s been limping through post-Brexit austerity, bureaucratic whiplash, and a PR hangover longer than the Queen’s Jubilee.

The decision is a win for the UK, which has been trying to revive its image as a global financial centre since the EU split left its trading floor looking a bit lonely.

For the U.S., though, it’s a bitter pill.

The Nasdaq has long been the default for blockbuster tech listings.

Losing one of Europe’s biggest unicorns to a city still negotiating sandwich tariffs with Brussels?

That hurts.

Visma’s CEO downplayed the politics, calling London “a vibrant global hub with strong tech investor interest.” But behind the polite corporate speak, it’s a signal.

European firms are shopping for IPO homes that aren’t buried in U.S.

regulatory gridlock, unpredictable politics, or tech-sector whiplash.

And America’s current landscape isn’t exactly welcoming.

Trump’s economic nationalism is back in fashion, Wall Street is struggling with volatility and AI overhype, and regulatory friction is increasing.

Some analysts believe this was less about London being great—and more about New York being complicated.

Meanwhile, UK officials are celebrating like it’s 2015.

Chancellor Rachel Reeves called the listing “a vote of confidence” in British markets.

Others are more cautious, warning that one tech unicorn does not a comeback make.

Still, the City is desperate for wins, and this one’s big enough to hang a bunting banner across the Thames.

For the U.S., the loss cuts deeper.

It’s a reminder that dominance isn’t permanent, and reputation alone doesn’t guarantee deals.

As Europe sharpens its pitch to tech firms, America may need more than Nasdaq prestige to keep global players from drifting.

Visma’s IPO is set to land London a multi-billion-dollar boost in trading volume, investor confidence, and badly needed narrative momentum.

Wall Street, meanwhile, is left wondering if it just blinked during a power shift—and lost something big in the process.

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