Here are eight words that could prove transformative for the UK tech sector:
The private intermittent securities and capital exchange system.
It’s a bit of a mouthful. But this system – PISCES for short — could make it much easier for fast-growing firms to find investors. Legislation is set to appear in May with a full launch as soon as July.
The idea, as the boss of the London Stock Exchange Group put it this week, is that private companies “get to be public for a day.” They can raise funds using the same mechanisms available to listed companies without all the regulatory strictures that come with being a plc.
For a lot of firms, that could be an attractive proposition. I can think of a dozen British tech unicorns who have publicly flirted with joining the stock market, none of whom have put pen to paper. Economic uncertainty and poor liquidity on the LSE have been major inhibitors….
