The London Stock Exchange has secured its largest tech IPO in three years, as cloud-computing giant Aetheria announced plans to list with an expected valuation of £6.5 billion.

The decision is being hailed as a success for the Financial Conduct Authority's recent reforms, which streamlined listing requirements to make London more competitive with New York. Aetheria's founders cited the depth of London's institutional capital as a key factor in their decision.

"London is back on the map for high-growth tech," said a senior partner at a leading City law firm. "The pipeline for the second half of the year looks stronger than it has in years."

However, some governance experts have raised concerns that the relaxed rules might lead to lower standards of shareholder protection. The LSE remains under pressure to prove it can sustain this momentum in the face of ongoing competition from the Nasdaq.