The Department of Business, Innovation and Skills (BIS) recently announced that in conjunction with the London Stock Exchange it has developed a set of proposals to introduce a new route to the UK IPO market for high-growth companies. The new route is intended to complement the UK’s existing markets, including AIM and the premium segment of the Main Market.
The proposals are likely to include amendments for high-growth companies on:
- Eligibility criteria;
- Reporting requirements; and
- The rule that at least 25% of the shares of a company applying for a premium listing must be held by the public in one or more EEA states at the time of admission.
BIS expects that further details on the eligibility criteria and benefits of the new route to market will be published before the end of 2012. It is expected that the proposals would be the subject of a consultation.
