Law firms in the UK are set to benefit from an influx of overseas companies if proposals put forward by the London Stock Exchange (LSE) for expediting the process of foreign listings on its Alternative Investment Market (AIM) get the go-ahead.
The proposals, published on March 18, allow for speedier listing on the AIM for firms already listed on 'AIM Designated Markets'. These include the Nasdaq, the New York Stock Exchange, Deutsche Boerse, and the Johannesburg Stock Exchange.
The amount of documentation required to list on the AIM will also be reduced in certain cases, according to the LSE.
Reports in the UK media following the release of the proposed listing changes have suggested that many UK law firms are expected to benefit from the influx of foreign corporations hoping to list on the AIM. However, in addition to this, a significant increase in the number of up-and-coming German companies is expected to be of particular benefit to those firms specialising in media and technology.
This is due to the closure earlier this year of the Neuer Market, a rival alternative European marketplace.
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