[UK Media: UK Treasury Plans to Implement Stamp Duty Relief for Newly Listed Companies on the London Stock Exchange]
According to a report by Financial Times cited by insiders, the UK Treasury plans to implement stamp duty relief for newly listed companies on the London Stock Exchange, driven by concerns over the declining competitiveness of the UK public capital markets. This measure would exempt investors from the 0.5% stamp duty currently required when purchasing shares of newly listed companies. Sources indicate that this relief may apply for two to three years after a company’s listing. There are already related tax exemptions in place during the IPO stock issuance phase. Officials hope this move will enhance market liquidity, encourage companies to choose London for their listings instead of competing cities like New York, and also motivate more retail investors to invest in the UK stock market.
According to Dealogic data, the number of listings in London this year has lagged behind exchanges in Angola, Zagreb, and Muscat. Financial industry professionals have been lobbying UK Chancellor Reeves to help revitalize London’s stagnant listing market. Additionally, several fintech companies have identified the burden of stamp duty as a significant obstacle in their choice of listing location. (Jin10)