Burford Capital Share News (BUR)

(Sharecast News) - Law-focussed finance and asset management firm Burford Capital announced on Tuesday that the US Securities and Exchange Commission (SEC) has completed its review of its Form 20-F registration statement in preparation for its dual listing on the New York Stock Exchange.
The AIM-traded firm said "some administrative and mechanical matters" would now need to occur before the start of trading of its ordinary shares on the NYSE, in addition to continuing trading on AIM in London.

It said it would communicate with shareholders about those matters "shortly", and once they are complete, it was expected that trading on the NYSE would be on 19 October.

"Today marks a significant step in Burford's evolution, as well as proving our leadership in the further institutionalisation of legal finance in global capital markets," said chief executive officer Christopher Bogart.

"We expect our US listing to create a positive symbiosis for our business, serving to increase the pool of investors able to invest in Burford's shares while also more broadly raising our profile in the US capital markets."

Bogart said that in time, both of those developments could lower the company's cost of capital.

"Furthermore, as the first legal finance firm to list its shares on a US stock exchange and become subject to NYSE and SEC regulation, we are choosing to submit ourselves, corporately and individually, to the rigour of the world's most well-regarded securities regulatory framework."

At 1001 BST, shares in Burford Capital were up 2.78% at 605.38p.