LONDON: Britain's financial watchdog signalled on Monday (Oct 16) that its plans to merge the London Stock Exchange’s two categories of company listin...
A view of the British capital’s twin financial powerhouse, the City of London and Canary Wharf. – ReuterspicBritain's financial watchdog signalled on Monday that its plans to merge the London Stock Exchange’s two categories of company listings and dilute some shareholder rights were poised to go ahead in a bid to make the City more globally competitive.
The City also continues to face stiff competition in company listings from New York, where UK chip designer Arm chose to go public. “We see good support for merging premium and standard listing segments into a new, single segment, with no cliff edge and generous transition arrangements,” FCA chief executive Nikhil Rathi told the annual Mansion House dinner in the City.
“This disadvantage faced by UK-listed companies competing in global M&A is real and needs to be fixed,” Rathi said.
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