Public Companies and Equity Finance offers a clear and practical examination of the legal and regulatory framework within which public companies operate. The guide examines all aspects of the life of a public company, including the IPO, the regulatory regime, corporate governance issues and listed company transactions. Particular emphasis is given to those areas which, typically, junior lawyers will experience. Throughout the text, the lawyer’s role is placed in context and attention is given to the roles of other advisers to public companies where relevant to the lawyer.
This new edition has been fully updated to cover all recent legislative developments including the wide-ranging new UK Listing Rules (introduced on 29 July 2024) which have substantially altered the regulatory regime for listed companies on the London Stock Exchange (including new listing categories, new listing requirements, new rules for significant transactions and reverse takeovers and new rules for circulars). Updated commentary has also been provided on forthcoming changes arising from the Financial Services and Markets Act 2023 and the Public Offers and Admissions to Trading Regulations 2023 (including the replacement of the prospectus regime under the current UK Prospectus Regulation).
Topical examples of how the issues covered in this book affect real-life public companies and their directors are included throughout, particularly in the areas of IPOs, corporate governance and secondary issues of shares.
Contents
Becoming a Listed Company
Public Companies
The London Stock Exchange
The Financial Services Authority
IPOs – Preparation
IPOs – The Process
IPOs – The Prospectus
Being a Listed Company
Continuing Obligations
Corporate Governance
The Financial Services and Markets Act 2000
Market Abuse
Insider Dealing
Financial Promotion
Equity Finance
Shares
Issuing Shares
Disclosure of Interests in Shares
Financial Assistance
Equity Finance
Equity Finance or Debt Finance?
Listed Company Transactions
Acquisitions and Disposals
Takeovers – Regulation
Takeovers – Preparation
The Takeover Process
Takeovers – Merger Control
AIM
Appendices
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