Capital raising

UK plans to ease capital raising rules in post-Brexit overhaul


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Pedestrians see skyscrapers and buildings, including 30 St. Marys Ax, also known as The Gherkin, on the skyline of the City of London, UK on Tuesday, April 27, 2021. In a financial center that attracts more international capital than any other, the fate of older buildings could touch the fortunes of some of the world’s largest real estate investors, from China Investment Corp. to Norway’s sovereign wealth fund and Malaysia’s largest pension fund. Photographer: Jason Alden / Bloomberg, Bloomberg

(Bloomberg) –

The UK government is seeking to relax the rules for companies to raise funds as part of a sweeping restructuring aimed at strengthening London’s position as a global financial center after Brexit.

The review focuses on shortening timelines for long stock offerings such as rights issues, where companies first offer new shares to existing holders, according to a statement released Tuesday. Bloomberg News reported in March 2020 that UK regulators were in talks with advisers about potential changes to the rules for raising capital.

Other changes being considered include making it easier for retail investors to participate in fundraising, reviewing the use of new technologies and improving the efficiency of the capital raising process for London listed companies. .

Chancellor of the Exchequer Rishi Sunak on Tuesday appointed Mark Austin, a partner at law firm Freshfields Bruckhaus Deringer, as independent chair of the review.

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