Shareholder demands IWG switches its listing to New York

IWG, the owner of Regus, is facing pressure from one of its largest shareholders, Buckley Capital Management, to relocate its stock market listing from London to New York. This demand comes as IWG's share price remains significantly undervalued, currently sitting 60% below its pre-pandemic levels. Buckley Capital argues that a move to the U.S. market could enhance the company's visibility and attract more investors, potentially leading to a recovery in share price. Despite IWG's adjusted underlying earnings being on track to achieve a record high this year, the company’s stock has not reflected this positive performance. Buckley highlighted a disconnect between the current share price and the company's intrinsic value, suggesting that the London Stock Exchange is not adequately recognizing IWG's potential. The activist investor's open letter to IWG and its shareholders emphasizes the urgency of this transition, indicating that immediate action is necessary to rectify the situation and unlock shareholder value.