In response to the proposed reforms to the listing regime in the UK, FTSE Russell have published the changes that will be made to its UK Index Series in a summary document combined with FAQs.
Eligibility
The eligibility criteria have been keenly anticipated by the market and the summary document confirms that
- all companies listed in the commercial companies category; and
- all funds listed in the closed-ended investment funds category,
will be eligible for potential inclusion to the FTSE UK Index Series provided that all other inclusion requirements set out in the ground rules are satisfied, for example that the entity has a UK nationality and a minimum free float of 10%.
Impact on the UK Index
As existing premium-listed issuers are expected to be mapped across to the commercial companies category or the closed-ended investment funds category, FTSE are not expecting an immediate impact on the population of the Index from day one of the new listing regime.
Possible further changes
It should be noted that that these proposals are not final and FTSE states that they are subject to amendment, depending on any further changes published by the Financial Conduct Authority.
For further information, please contact:
Lucy Fergusson, Partner, Linklaters
lucy.fergusson@linklaters.com
