Equity capital markets

As we reported in the spring, the UK listing and prospectus regimes are being overhauled, with the aim of making London a more attractive place for companies to list and stay listed. Over the summer, the FCA published its feedback and final UK Listing Rules, which took effect on 29 July 2024 and represent the biggest shake-up of the listing regime in the past three decades. The most significant changes are for companies already listed on the Official List, with less onerous obligations as regards significant transactions and related party transactions, as well as changes to the role of sponsors. Read our key takeaways.  

Over the summer, the FCA also published a consultation on its draft prospectus rules which will replace the current rules. Proposed changes include allowing a company with shares already admitted to trading on the LSE's main market and listed on the Official List to carry out a secondary fundraising of up to 75% of its issued share capital without a prospectus. Read our briefing.

For more on the whole package of reforms to the listing, prospectus and secondary fundraising regimes, read our updated overview, London Landing: Reform of UK capital markets.