An extensive overhaul of Britain’s listing regulations has heightened the appeal of the London stock market, according to a senior executive from the first company benefiting from the changes.

Andy Hunter, deputy managing director of CK Infrastructure (CKI), a Hong Kong-based firm with a market capitalization of almost £14 billion, shared with The Times that the updated rules are ‘very welcome’ and have made it ‘more straightforward’ for the company to trade its shares in London.

‘It helped quite a lot, it has streamlined the process and streamlined the day-to-day operations of a UK-listed company in regards to the rules and regulations you must comply with,’ Hunter noted.

Following CKI’s secondary listing on London’s main market on Monday, Hunter provided insights as CKI became the first business to list, excluding reverse takeovers, since the Financial Conduct Authority’s (FCA) revamp at the end of July.

CKI is part of the business empire of Li Ka-shing, the wealthiest individual in Hong Kong. Already listed on the Hong Kong Stock Exchange, the company reported profits attributable to shareholders of £430.2 million for the first half of the year ending June 30.

Hunter’s remarks bring a positive outlook for the London exchange, UK regulators, and ministers, who are striving to enhance the attractiveness of Britain’s stock market, amid concerns of businesses relocating to other global venues, notably New York. Last year, Arm, a Cambridge-based microchip designer, opted for a Nasdaq listing in the United States over London. Moreover, several prominent UK-based companies have shifted their primary listings from London to New York recently.

The FCA’s significant update to its listing rules, the most extensive in over three decades, is designed to counteract this trend by simplifying market procedures to entice companies.

This simplification, however, heightens risks for investors by removing previously established protections, placing more responsibility on them to perform due diligence before investing in shares. Critics of the reforms warn that this shift could undermine the UK’s reputation for high governance standards, potentially making it a less attractive investment hub.

Hunter mentioned that CKI had briefly considered other secondary listing options but quickly decided on London, primarily due to its substantial presence in the UK. The company first invested in the UK 20 years ago, now holding assets such as Northumbrian Water, Wales & West Utilities, UK Power Networks, and Eversholt, a rail rolling-stock business.

‘It just seemed like a natural progression to have a UK listing,’ Hunter explained, adding that the listing did not involve any fundraising.

Looking ahead, Hunter expressed optimism for the UK under the new government’s leadership, suggesting that CKI believes ‘the government will create conditions in the UK that are very conducive to investment’.

Chancellor Rachel Reeves is actively seeking to attract inward investment to boost economic growth, having visited New York and Toronto to engage with major investors, including Canada’s pension funds and US-based investment firm Blackstone.