The Financial Conduct Authority has, today, published a consultation paper the aim of which is to begin a broad discussion of the purpose and value of the UK listings regime alongside seeking views on specific proposals: see here (pdf). The specific proposals include: [a] in certain circumstances allowing dual class share structures within the premium listing segment; [b] reducing the free float requirement from 25% to 10%; and [c] increasing the minimum market capitalisation for premium and standard listing segments for shares in companies other than funds from £700,000 to £50 million. In addition, the paper notes that while no specific proposals are being put forward (at this stage) in respect of the track record requirements for listing, the FCA will be providing further information about its willingness to provide "flexibility" in respect of the existing requirements.
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