The activist investor Gatemore Capital Management has called for Watches of Switzerland to join the exodus of London-listed companies across the Atlantic and move its primary listing to New York.
Gatemore, which holds about 1.9 million shares, or 0.8 per cent of the luxury retailer, urged bosses to make the move to “fully unlock the value” of the stock.
The activist said listing in New York would provide Watches of Switzerland with access to deeper pools of capital, an increase in liquidity and more exposure to long-term investors.
Gatemore also said the move would allow the retailer to make the most of its expansion in the United States, where it believes the company will generate most of its future revenue.
Watches of Switzerland made