FTSE launches consultation on free float rules

The FTSE Group has launched a consultation on whether it should raise its minimum free float requirement from 15% to 25%.

Launching the consultation, the group said it had received a number of requests to raise the minimum free float requirement to 25%, in line with UK Listing Authority requirements. Current rules require companies to have at least 15% of shares free to be traded, though this threshold falls as low as 5% in the case of companies with a market cap in excess of £3bn. The UKLA already requires a 25% free float for a company to obtain a premium listing, but has made exceptions in the past for the likes of miner ENRC, which was again the subject of corporate governance concerns earlier this y...