The FCA is currently consulting on changes to harmonise the Prospectus Rules with the Prospectus Regulation, parts of which are likely to come into force in May or June 2017.

The changes coming into force include an increase in the annual limit on the amount of shares that companies can issue without publishing a prospectus whilst their shares are admitted to a regulated market (such as the Main Market) from less than 10% to 20%.

These changes will be of interest to small companies on the Standard Segment of the Main Market that wish to raise funds through secondary issues of equity and/or the issue of shares as consideration for acquisitions.

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