The new reforms to the UK listing regime (Listing Rules) published by the Financial Conduct Authority (FCA) came into force on Monday 29 July 2024, marking the most significant change to the UK’s listing regime in 40 years as...more
Takeaways - Responding to a decline in the London Stock Exchange’s global market share of IPOs and other fundraising, a string of government-commissioned reports prompted proposals to reform the U.K.’s listing rules and...more
In their dataset and working paper, titled The Rise of Dual-Class Stock IPOs, Dhruv Aggarwal, Ofer Eldar, Yael Hochberg, and Lubomir P. Litov, find that the rise in the number of dual-class IPOs is tied to the increase in...more
The Indonesia Stock Exchange (“IDX”) lists an average of 30 companies per year, but this number is increasing, with 30 companies having already listed by September 2021. The IDX is an important player in Asian capital...more
London’s recent notable technology IPOs prove that European markets offer tech companies opportunities to achieve multibillion-dollar valuations and to meet their founders’ requirements. In an attempt to increase the number...more
The review of the UK Listing Rules was launched by HM Treasury (the Treasury) late last year and has made a number of wide-ranging recommendations of relevance for our tech and life sciences clients who have ambitions to go...more
Recommended changes include allowing dual class share structures for premium listed companies, changes designed to increase the attractiveness of UK listings for SPACs, and changes to the free float requirement....more
Lord Hill today published his recommendations following the UK Listings Review Call for Evidence in November 2020. The recommendations cover the Listing Rules applicable to Special Purpose Acquisition Companies (SPACs),...more
Lyft, Inc. last week completed its highly anticipated initial public offering, raising over $2.3 billion at a valuation of approximately $25 billion, and turning its co-founders Logan Green and John Zimmer into near...more
Last week, Intelligize published The Unicorn IPO Report, which analyzes IPOs from 2016 through 2018. In 2016, the report notes that the AppDynamics IPO was days away from completion prior to its acquisition by Cisco for $3.7...more
In April 2018, the Hong Kong Stock Exchange’s (HKEx) rule amendments permitting the listing of innovative, high-growth companies with dual-class share structures and pre-revenue biotech companies went into effect. The...more
Below, a continuation of our bibliography of thought-provoking articles on issues related to right-sizing regulation, staying private versus going public, and related topics...more