UK: The UK Listings Review – terms of reference and call for evidence
The terms of reference, and a call for evidence, for the recently announced review of the UK listings regime were published today: see, respectively, here and here.
The review, which is being led by Lord Hill of Oareford, has been asked, to quote directly from the terms of reference, to propose recommendations “for how to boost the UK as a destination for IPOs and optimise the capital raising process for companies seeking to list on the main UK markets”.
The call for evidence invites views on a number of matters such as free float requirements, dual class structures, track record requirements, prospectuses and dual and secondary listing. Various questions are asked including whether dual class share structures should be permitted in the Premium Listing segment of the London Stock Exchange and should the current free float requirement of 25% be changed.