UK'S FCA SIMPLIFIES IPO RULES TO SUPPORT UK LISTINGS
The reforms remove a seven-day research delay and are meant to cut compliance costs and execution risk for companies seeking a UK listing.
- On Wednesday, the Financial Conduct Authority announced simplified listing rules to make the UK stock market more attractive for companies seeking to raise capital, aiming to reverse a prolonged slowdown in flotations.
- London's stock market has shrunk over the last decade as companies move away seeking higher valuations and deeper capital access, particularly in the United States, prompting regulatory intervention.
- The FCA will remove the seven-day waiting period for connected research during an initial public offering to lower execution risks and compliance costs for issuers.
- FCA director of infrastructure and exchanges Jon Relleen stated, "By making the UK listing regime more efficient, we are supporting the growth and competitiveness of UK capital markets."
- This year has seen a surge in foreign take-private deals for British firms like Intertek, Tate & Lyle, and Segro, as domestic stocks became cheaper compared with United States equities since the start of the Iran war.
12 Articles
12 Articles
(Paris=Yonhap News) Correspondent Song Jin-won = UK financial regulators are seeking to overcome the prolonged slump in initial public offerings (IPOs) and the attractiveness of the UK stock market as a source of capital...
FCA Scraps Seven-Day IPO Research Wait to Boost Listings
The Financial Conduct Authority (FCA) has scrapped the seven-day waiting period that sat between the publication of an approved IPO prospectus and the release of connected research, a rule that has added at least a week to every major UK listing since 2018. The change took effect on publication of the FCA's policy statement, PS26/16, on 5 August. The stated goal is competitiveness. UK IPO activity has fallen sharply in recent years as companies …
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