What value a listing?
It has long been assumed that in order to qualify as a “proper” company, a stock exchange listing is required. Yet a recent survey of major European companies may pose a question to this assumption. Joining the “Official List” of companies that have been granted eligibility for their issued securities to be publicly traded on a stock exchange used to be the only practical channel for companies to sell their shares and bonds to investors. That was before MiFID. MiFID, among ot