The Financial Conduct Authority is pushing ahead with plans to water down Britain’s listing rules, in an attempt to help the City of London to compete internationally.
The regulator confirmed that it will today introduce revised listing rules that will allow a controversial form of dual-class share structure to enter the FTSE indices. These are common for technology companies in the United States.
The new rules will allow a company’s founder to maintain a greater degree of control for five years after listing. A minimum of 10% of a company’s shares will have to be in public hands – known as a free float – down from 25%.
