Equity Capital Markets — Which Market?

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The UK has always been a popular destination for UK and overseas companies who are looking to raise finance on a public securities market. Trading on a UK market allows issuers to access a wide investor base whilst raising its international profile and affording internationally recognised protections for its shareholders.

London offers a diverse range of markets with different levels of regulation suitable for both larger and smaller domestic and international issuers. The Main Market offers established companies the opportunity to trade on an internationally recognised platform. In March 2013, the London Stock Exchange launched the new High Growth Segment of the Main Market for high growth companies looking to raise capital on the Main Market but which may not be in a position to obtain, or may wish to defer, a listing on the Official List. Such applicants are required to include a non-binding indication in the prospectus setting out that they intend to apply for admission to the Official List in the future. Alternatively, smaller and less established companies may wish to seek new capital and raise their profile by being admitted to trading on AIM, a non-EU regulated market, but one which has proved popular for young and ambitious companies.

In April 2010, following the Financial Services Authority’s (since 1 April 2013, known as the Financial Conduct Authority) lengthy review of the Listing Regime, a new regime came into effect so that issuers are able to choose whether to list their securities on the Premium or Standard segments of the Main Market…

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