AUDIO – The magic is broken

September 25, 2006

leglise2.jpgThe Nasdaq stock market’s once quasi-monopoly over technology IPOs has been “absolutely destroyed” by the Sarbanes-Oxley corporate governance and accounting law, said Claude Leglise, the managing director of venture capital firm WI Harper. “We could argue the details but the magic is absolutely broken,” he told the Reuters Venture Capital Summit. He said that Hong Kong, Singapore, Tokyo and London were now all potentially appealingĀ alternatives because of the costs of listing in the U.S.

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