FCA Plans Revamp Of Shareholding Rules For Listed Firms
Law360, London (July 5, 2021, 12:35 PM BST) -- The finance watchdog has proposed that listed companies should cut the number of shares they are obliged to place in public hands, under capital markets reforms designed to boost the competitiveness of London financial markets.
The Financial Conduct Authority launched a consultation on Monday on amendments to improve Britain's primary markets and lower barriers to entry for issuers. The proposals include reducing the free-float requirement for companies listed on the London Stock Exchange — the proportion of a company's shares that must be in public hands — from 25% to 15%.
The free float ensures that the shares being traded are...
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