City Of London
UK Overhauls Listing Rules in Bid to Lure IPOs to London
- New rules mark biggest changes to listings regime in decades
- Overhaul comes amid wide debate about London’s competitiveness
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UK regulators overhauled their rules for companies looking to make their public debut in London, part of a concerted effort to draw more initial public offerings to the City.
The new rules allow companies to carry out more activities without putting them to a shareholder vote, the UK’s Financial Conduct Authority said Thursday. They also make it easier for companies to have two classes of shares, a structure that’s often favored by entrepreneurs or early-stage investors who want to have a significant role in businesses even after they have gone public.