The London Stock Exchange (LSE) confirmed its changes today Acceptance and Disclosure Standards which will be implemented following changes to the Listing Rules announced by the Financial Conduct Authority (FCA) on 11 July 2024 and due to come into force on 29 July 2024.
The FCA has decided to replace the standard and premium registration sections with a single registration section. Therefore, the proposed changes to the Standards must reflect this change in the FCA’s Listing Rules. As these amendments are to bring the Standards into line with relevant changes to the FCA’s Listing Rules, these changes will not be consulted on.
In addition, following changes to the Listing Rules and in particular changes to the requirement for shares in public hands, the Exchange is closing the High Growth Segment (HGS) as its purpose is no longer redundant.
As there are no issuers accepted on HGS and none have been accepted on HGS for more than 12 months, these changes will not be consulted on.
In rules published today, the UK Financial Conduct Authority (FCA) has set out a simplified listing regime with a single class and streamlined eligibility for companies wishing to list their shares in the UK.
The review of import rules better aligns the UK regime with international market standards. It also ensures that investors have the information they need to make decisions about their money, while maintaining adequate investor protections to hold the management of companies they co-own accountable.
According to the UK List Review, the number of listed companies in the UK has fallen by around 40% since a recent peak in 2008. Between 2015 and 2020, the UK accounted for only 5% of Initial Public Offerings (IPOs) globally .