07:00 Mon 14 Dec 2020
Aquis Exchange PLC - AQSE rule changes & market segments now in effect
RNS Reach
Aquis Exchange PLC
("Aquis" or the "Company")
Aquis Stock Exchange rule changes and new market segments now in effect
Aquis Exchange PLC (AQX.L), the exchange services group, is pleased to announce that its proposed changes to the rules and regulations of its subsidiary Aquis Stock Exchange (AQSE) Growth Market are now in force.
The AQSE Growth Market will be divided into two segments 'Access' and 'Apex', with different levels of admission criteria, in order to provide appropriate support across companies' growth cycles. The Access market will focus on earlier stage growth companies, while Apex is the intended market for larger, more established businesses.
As of today:
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New admissions to the Access market can now publish an admission document specifically tailored to small cap companies with proportionate disclosure requirements; |
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The Access market will accept SPACs with a minimum market cap of |
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New admissions to the Apex market will be required to publish a growth prospectus, allowing private investor participation in their IPOs; and |
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Companies on the Apex market will be protected from short selling by third parties. |
As announced on the 23 November, the market maker incentive scheme, which has been designed to increase liquidity on the exchange, will come into effect on the
The rule changes mark the end of the consultation launched on
Some of the companies that are currently listed on the Apex market include: private banking company Arbuthnot Banking, private equity investment company EPE Special Opportunities, winery Chapel Down, breweries
Following these rule changes Apex companies will need to have:
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A minimum market capitalisation of |
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At least 25% shares in public hands |
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At least 2 market makers |
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A minimum 2 years' trading history |
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Adopted a recognised governance code, such as the QCA Code |
Aquis Stock Exchange is one of only two existing options for growing businesses looking to IPO in the
Commenting on the changes coming into effect,
"I am delighted to see the new rules in place across Aquis Stock Exchange today. I genuinely believe that whilst providing a strong regulatory framework, they will make the market work better for all those that use it and help to update the stock exchange for the current day, fit to service the needs of modern businesses.
Private investors are rightly becoming ever more vocal in their demand for better information and equal access. We support this, and through requiring companies joining Apex to publish a growth prospectus we are providing a way for them to be part of a company's growth journey right from the point of floatation.
This is just one example of the work we have undertaken to create a better, more supportive marketplace for all. We look forward to welcoming many more great growth businesses to Aquis Stock Exchange in due course."
Enquiries:
Aquis Exchange PLC |
Tel: +44 (0) 20 3597 6321 |
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Liberum Capital Limited (Nominated Adviser and Broker) |
Tel: +44 (0) 20 3100 2000 |
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Alma PR (Financial PR Adviser) |
Tel: +44 (0)20 3405 0209 |
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Notes to editors:
Aquis Exchange PLC is an exchange services group, which operates pan-European cash equities trading businesses (Aquis Exchange), growth and regulated primary markets (Aquis Stock Exchange/AQSE) and develops/licenses exchange software to third parties (Aquis Technologies).
Aquis Exchange is authorised and regulated by the UK Financial Conduct Authority and
Aquis Stock Exchange (AQSE) is a stock market providing primary and secondary markets for equity and debt products. It is authorised as a Recognised Investment Exchange, which allows it to operate a regulated listings venue.
Aquis Technologies is the software and technology division of Aquis Exchange PLC. It creates and licenses cutting-edge, cost-effective matching engine and trade surveillance technology for banks, brokers, investment firms and exchanges.
Aquis Exchange PLC (AQX.L) is listed on the Alternative Investment Market of the LSE (AIM) market. For more information, please go to www.aquis.eu
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