IWG, the flexible office group formerly known as Regus, could become the next big departure from the London Stock Exchange.
The board of the FTSE 250 company, which has a stock market value of £1.5 billion, has confirmed that it is looking at switching IWG’s reporting currency to dollars and adhering to US accounting standards.
Moving its stock market listing from London to New York is also under consideration, said Mark Dixon, IWG’s founder, although he said that a move was not imminent.
Switching currencies and accounting standards “are just completely practical considerations”, Dixon said, given that two-thirds of IWG’s revenue is in dollars or dollar-related currencies. The “volatility in sterling” over the past year has also added to the case for reporting in dollars
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