FCA confirms new listing rules including dual-class structure

Effective 3 December

The Financial Conduct Authority has confirmed new listing rules, which will take effect tomorrow (3 December), in an effort to keep the UK as a “trusted and attractive place to list successful companies”.

According to the UK Listing Review, the number of listed companies in the UK has fallen by about 40% from a peak in 2008. Between 2015 and 2020, the UK accounted for only 5% of IPOs globally. In a policy statement released today (2 December) the FCA confirmed a number of changes that have been discussed in the UK Listing Review. These include: allowing dual class structures (DCSS) within the premium listing segment; reducing the amount of shares an issuer is required to have in public hands from 25% to 10%; and increasing the minimum market capitalisation threshold for both premium an...