London Tunnels attraction to list in Amsterdam

London Tunnels, which aims to convert an abandoned underground network into a tourist attraction, has ditched plans to float in the capital, instead opting to list in Amsterdam.

- Jack Simpson

The company aims to make the Kingsway exchange tunnels, a network covering 8,000 sq metres under Holborn in central London, into a new attraction that will bring in 2 million visitors a year.

The group revealed yesterday that it hoped to raise £30m by listing on Euronext Amsterdam, saying it could make the most of the size and scale of the equity and capital markets of Europe by listing in the Dutch capital.

The decision comes after the company sent papers to the London Stock Exchange (LSE) in January outlining its intention to float in the capital.

At the time, its chief executive, Angus Murray, said: "This unique set of tunnels, owned by a British company, built by the British government, for the defence of Britain, that can further enhance London's reputation as a leading tourist destination, should be listed in London."