Fresh signs of European stock exchanges losing out to the US in attracting key IPOs have emerged this week, despite bourses and governments intensifying their efforts to win and retain listings. Glasgow-based power equipment firm Aggreko Plc is the latest European company to file for a US initial public offering, which could value it at about $15 billion. Finnish smart ring startup Oura Health Oy could raise as much as $3 billion in New York as soon as September, Bloomberg reported.

These developments highlight a growing trend where European firms opt for US listings due to deeper capital markets, higher valuations, and greater investor interest. The shift raises concerns about Europe’s ability to retain high-growth companies and compete globally in capital markets, even as local exchanges and policymakers launch initiatives to improve competitiveness.