London Stock Exchange Introduces New High Growth Segment

28 February 2013
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  • London Stock Exchange ("LSE") announces its intention to launch a new niche market for fast-growing companies called the High Growth Segment. Developed in consultation with the British government, the High Growth Segment will offer admission to trading on the LSE principally for high growth, commercial companies that intend to seek admission to the Official List in the future but that may not yet meet the applicable eligibility criteria.
  • Applicants to the High Growth Segment will need to satisfy certain criteria, including, amongst other things: (i) at least 10% of the securities to be admitted must be in public hands, (ii) the value of the securities in public hands must be at least £30 million, (iii) applicants must demonstrate they have been growing at a rate of at least 20% for the past three years, (iv) applicants must be incorporated in the EEA, and (v) applicants must show intention to apply for admission to the Official List in the future.
  • The LSE’s consultation on the draft rulebook for the High Growth Segment closes on 8 March 2013. The High Growth Segment is expected to launch later this coming Spring.