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Standard listing segment meaning

What does Standard listing segment mean?
In UK capital markets practice, the standard listing segment refers to the part of the FCA’s Official List for securities admitted to trading on the London Stock Exchange Main Market that meet the baseline FCA Listing Rules, without the additional “premium” requirements. It is a regulatory classification used in the FCA Handbook (Listing Rules), not a statutory or case-law term. Key features include: no sponsor requirement for most transactions; no obligation to report against the UK Corporate Governance Code; and lighter eligibility and continuing obligations than the premium listing segment. Issuers must still comply with the UK Prospectus Regulation (where applicable), the FCA’s Disclosure Guidance and Transparency Rules (DTR) and the UK Market Abuse Regulation (UK MAR). Standard listed equity is typically ineligible for FTSE UK indices, which can affect investor demand and liquidity. The segment is often used by overseas companies seeking a London admission with fewer super-equivalent requirements, and for GDRs and certain debt securities. Update (UK): From 29 July 2024, as part of FCA listing reforms, new equity listings for commercial companies move to a single category; the standard listing segment for equity shares is being phased out, with legacy issuers remaining during transition. Ireland: there is no equivalent...
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View the related Practice Notes about Standard listing segment

PRACTICE NOTES
London Stock Exchange Main Market dual or multiple class share structures: company tracker, weighted voting rights summaries, and UK listing regime reforms (2021–2026)

Last updated 23 March 2026. This tracker reviews commercial companies joining the London Stock Exchange’s Main Market with a dual or multiple class share structure (DCSS), where one share class carries weighted voting rights, and summarises the rights attached to those shares. A DCSS lets a founder shareholder keep voting control by giving enhanced or weighted rights to an unlisted share class or a special ‘golden share’. Listed companies with a dual or multiple class share structure The summary below outlines commercial companies that have listed on the London Stock Exchange’s Main Market with a dual or multiple class share set-up as set out below. Entries cover: the company; dates of key events; share structure and the holders of any weighted voting rights share(s) on admission; and a synopsis of the rights of weighted voting rights shares or any special share on admission. Oxford Nanopore Technologies plc 5 October 2021 — admitted to the standard listing segment 29 July 2024...

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PRACTICE NOTES
Admission of GDRs to the UK FCA Official List (standard segment) and LSE Main Market: eligibility, application and prospectus requirements (pre‑29 July 2024)

STOP PRESS: On 29 July 2024, a significant overhaul of the UK listing framework took effect, which included scrapping the premium and standard segments and establishing a single listing category for equity shares in commercial companies. This commercial companies category is heavily disclosure-led and sits alongside other listing categories, such as the shell companies, secondary listing and closed ended investment fund categories. A new UK Listing Rules sourcebook came into force to implement these changes, and the previous Listing Rules sourcebook was revoked. For further information, see Practice Note: Reform of the UK listing regime—fundamentals. This Practice Note reflects the listing regime prior to 29 July 2024. It relates to the admission of depositary receipts, commonly referred to as global depositary receipts (GDRs), to listing on the Official List of the Financial Conduct Authority (FCA) and to trading on the main market for listed securities of the London Stock Exchange (Main Market) (LSE). GDRs are transferable certificates issued by depositary banks that represent ownership of a specified number of...

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PRACTICE NOTES
UK listing and prospectus regime reform since Lord Hill: FCA UKLR 2024 restructuring, SPACs, DCSS, free float, secondary capital raising, investment research and PISCES—recommendations, implementation and status

This Practice Note summarises the principal proposals to overhaul the UK listing regime set out in Lord Hill’s report of 3 March 2021, and outlines how the government and the FCA are progressing those proposals. For more on changes to the listing and prospectus framework, see Practice Notes: Reform of the UK listing regime—fundamentals UK prospectus regime reform The public offers and admissions to trading regime (POATRs)—fundamentals UK Secondary Capital Raising Review UK listing and prospectus regime reform—progress tracker —call for evidence On 19 November 2020, ahead of the end of the Brexit implementation period, HM Treasury opened a review of the UK listing regime to be led by Lord Hill, a former EU financial services commissioner. The process began with a Call for Evidence inviting market participants’ views on five core topics: free float requirements, dual class share structures, track record conditions, prospectuses, and dual and secondary listings. Broader observations on how the UK’s capital markets could attract more...

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