LSE's Walker on IPO Volumes, Attracting SPACs

The video discusses the dual class structures in the London Stock Exchange, highlighting the differences between the standard and premium segments. It addresses investor concerns about market balance and the attractiveness of London for IPOs compared to other markets like New York. The role of SPACs and their potential growth in the UK is explored, along with the impact of Brexit on listing decisions. The video concludes with insights into future trends in listings, including direct listings and the evolving market landscape.

What is the current status of dual class shares in the premium segment of the London Stock Exchange?

• They are allowed with specific safety provisions.

• They are not allowed at all.

• They are allowed only for tech companies.

• They are fully allowed without restrictions.

Why is the London Stock Exchange considered attractive for IPOs?

• It has the highest trading volumes globally.

• It offers a single market segment.

• It provides multiple segments tailored to different needs.

• It only allows traditional IPOs.

What is a key feature of US-style SPACs that differentiates them from UK-style SPACs?

• They are not allowed in the UK.

• They are only for tech startups.

• They include listing of warrants and trust structures.

• They do not have redemption features.

What is the expected timeline for implementing changes to the SPAC regime in the UK?

• No specific timeline has been set.

• By the end of next year.

• By early summer.

• By the end of the year.

What is a potential benefit of direct listings for companies?

• They require a single IPO book build event.

• They allow companies to raise significant primary capital.

• They enable companies to list without raising new capital.

• They are only available in the US.

How has Brexit impacted the listing decisions of companies in Europe?

• It has made London less attractive for tech companies.

• It has not caused significant changes in listing behaviors.

• It has led to a substantial change in trading volumes.

• It has significantly reduced IPO volumes in London.

What is a challenge for direct listings in London due to the current free float requirement?

• Companies must have a 50% free float.

• Companies must have a 25% free float.

• Companies must have a 10% free float.

• Companies must have no free float.