(Alliance News) - Burford Capital Ltd on Monday said that the US Securities & Exchange Commission continues to review its registration statement, as the litigation finance firm eyes a stock listing on the New York Stock Exchange.
Assuming SEC approval, the NYSE has approved Burford's shares for listing. On the SEC approval, Burford shares will trade both in New York and in London.
"Even though the SEC process is continuing, as there is a multi-week period of administrative preparation that is necessary, Burford is beginning that preparation now so that in the event of SEC approval the shares can begin to trade on the NYSE," Burford said.
London-based Burford Capital in July had said that it filed a registration statement with the SEC to list shares on a US stock exchange. The company, however, does not intend to issue new shares under the new US stock listing.
Shares in Burford Capital were up 2.6% at 578.78 pence each in London on Monday morning.
By Tapan Panchal; tapanpanchal@alliancenews.com
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Burford Capital (BUR)