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ARTICLE · 06 DECEMBER 2021

FCA Primary Market Effectiveness Review - Final Changes To The Listing Rules

Bryan Cave Leighton Paisner
Bryan Cave Leighton Paisner
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Following on from the FCA's consultation on the effectiveness of the Primary Market, the FCA has published final rules on, amongst other things, free float and minimum market capitalisation...

United StatesFinance and Banking
Alexander Keepin
Alexander Keepin
Tessa Hastie
Tessa Hastie

Summary

Following on from the FCA's consultation on the effectiveness of the Primary Market, the FCA has published final rules on, amongst other things, free float and minimum market capitalisation, which come into force on 3 December 2021. 

There are a number of transitional provisions which will apply including allowing those companies that have made a completed submission to the FCA for a listing eligibility review by 4pm on 2 December 2021 and certain shell companies to continue to make use of the current minimum market capitalisation threshold of £700,000, as opposed to the new threshold of £30m, for an interim period.

Changes to the listing regime

The FCA are introducing the following changes to the Listing Rules with effect from 3 December 2021:

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