Long-Term Stock Exchange Puts ESG Front and Center
The Long-Term Stock Exchange (LTSE) will list its first two companies in August.
The LTSE, launched last September, is meant to attract long-term investors. Its listed companies will commit to adopting strong ESG stances that benefit stakeholders, in contrast to prioritizing short-term return for shareholders. Initially the intent was for the LTSE to be the exclusive exchange for listed companies, but now a company can also be listed on the NYSE or Nasdaq.
The first two LTSE listed companies are Silicon Valley tech companies. Asana, Inc., the creator of a work management platform, and Twilio Inc., a cloud communications and customer engagement platform, will be listed on both the New York Stock Exchange and LTSE.
It has been reported that Airbnb considered a dual listing with Nasdaq and LTSE before its IPO in December but decided against it.
Asana and Twilio CEOs see the new exchange as a way to go all-in on ESG, long-term strategy and transparency.
