Bitpanda Shifts IPO Plans, Targets New York & Frankfurt Markets

Bitpanda, the cryptocurrency exchange backed by Peter Thiel and Alan Howard, has abandoned its plans to list on the London Stock Exchange. The company cited weak trading activity on the LSE and a trend of firms leaving the UK market as reasons for shifting its IPO focus towards New York and Frankfurt. 2023 saw the UK’s IPO market weaken significantly. 2021 saw a peak in funding, exceeding £8.8B (about $11.8B) but recent years have seen a drastic decline. The exchange believes that markets like New York and Frankfurt offer deeper capital markets with greater investor demand and stronger daily trading volumes, crucial elements for a successful IPO.