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UK watchdog to push ahead with new 'Aramco' listing category

Reuters  |  LONDON 

(Reuters) - Britain's markets said it will introduce a new premium listing category next month for sovereign-controlled companies, but with some changes following criticism that it was trying to help win a possible listing.

"In July last year, the consulted on proposals aimed at encouraging such companies to choose the higher standards of premium listing, rather than standard listing," the said in a statement on Friday.

"The thinks there is considerable benefit to investors if corporate issuers agree to meet these additional premium requirements."

The said that following feedback to its proposal, it has made some changes, including the requirement that the election of independent directors be subject to approval from independent shareholders.

"These rules mean when a sovereign controlled company lists here, investors can benefit from the protections offered by a premium listing," said.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, June 08 2018. 12:46 IST
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