On 20 December 2023, the FCA published Consultation Paper CP23/31 setting out detailed proposals for the reform of the UK listing regime. This follows on from the blueprint contained in its previous consultation (CP23/10) published in May 2023.

We have published a new briefing which considers the key requirements for the new equity shares in commercial companies category, some of the main changes from the position outlined in the previous consultation, and the transitional provisions the FCA intends to apply to existing premium listed commercial companies and standard listed share issuers.