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Main Market - Listing depositary receipts (DRs)


For a company to have its DRs listed and traded in London, its prospectus must first be approved by the UK Listing Authority (UKLA), part of the Financial Services Authority (FSA).

The FSA is happy to discuss the approval process informally with the company ahead of the submission of the prospectus, and the company will also benefit from ongoing and regular dialogue with the Exchange. The Exchange and FSA are happy to work as flexibly and responsively as possible to suit the company’s planned transaction timetable.

By listing its DRs in London and having them admitted to trading, a company can expect to gain exposure to a broader and more diversified investor base, potentially resulting in greater liquidity. There may also be enhanced visibility and profile for the company's products, services and securities outside its home country. Going forward, the company will also gain a flexible mechanism for raising capital and a vehicle or currency for mergers and acquisitions.

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