London Stock Exchange welcomes review of IPO rules as City launches IPO comeback
Dame Julia Hoggett, chief executive of the London Stock Exchange, has backed the ‘biggest overhaul of listing rules in decades’.
The long-awaited changes from the Financial Conduct Authority (FCA) are aimed at restoring the UK’s stock exchange status after the country lost leading companies to foreign rivals.
Hoggett said: ‘This will allow companies listed in the UK to benefit from a regime that better supports growth ambitions, increases investment opportunities for UK investors and supports the UK economy.’
Shakeup: City Watchdog The Financial Conduct Authority has made a raft of changes to its listing rules as part of efforts to revive the UK’s status as a stock exchange
Chancellor of the Exchequer Rachel Reeves said: ‘These rules are an important first step towards revitalising our capital markets, bringing the UK on a par with global competitors and attracting the most innovative companies to list here.’
The FCA first published plans last year, which come into effect on 29 July, creating a ‘simplified’ regime that removes the distinction between standard and premium listings.
Currently, only companies with a premium listing can join the FTSE 100 and FTSE 250 indices. Removing this distinction will create space for more companies to join.
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