UK Listings Rules: How do you catch a unicorn?
The UK listing rules are currently in the spotlight, with the Government keen to make London a more attractive place for listings. It is easy to see why – the level of listings in the UK has fallen 40% since 2008. There are also concerns that the FTSE is too dominated by ‘old economy’ companies and that the UK is not doing enough to foster high growth tech companies.
Two Treasury reports published this week set out recommendations for reform: the UK Listing Review, chaired by Lord Hill, and the Kalifa Review of UK Fintech.
In this article we look at the key changes each review recommends in relation the UK listing rules. These recommendations do not have to be implemented, but the decree of alignment between the two and the Chancellor’s response to them both makes clear the likely direction of travel. We should be prepared for major changes to the status quo…
