New listing rules aimed at improving the appeal of the UK market by cutting disclosure requirements have received mixed reviews from investment bankers, with some raising concerns about the impact on their work.
The reform, which came into force last week and underpins the public offers and admissions to trading regime, has increased the cap at which companies that are already listed in the UK need to create a prospectus to raise further funds. The cap has now been moved from 20 per cent to 75 per cent of existing listed shares. A prospectus would still be required for initial public offerings.
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