News & Analysis as of

Publicly-Traded Companies Initial Public Offering (IPO) Capital Markets

Morgan Lewis

HKEx Issues Conclusions on Optimizing IPO Price Discovery and Open Market Requirements

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This LawFlash breaks down the key conclusions of the HKEx’s consultation on optimizing IPO price discovery and open market requirements, which aimed to review the existing decades-long regulatory framework and enhance the...more

Woodruff Sawyer

Trading Places? Checking in on the New Texas Stock Exchange

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Everyone knows the names of the two major national stock exchanges: the New York Stock Exchange and the Nasdaq stock market. In fact, there are currently a total of 16 national stock exchanges in the United States, each with...more

Skadden, Arps, Slate, Meagher & Flom LLP

New UK Prospectus Rules Published

- What is new: The FCA has published final rules for the new UK prospectus regime, introducing significant reforms such as a new 75% threshold for secondary issuances, new prospectus exemptions, permitting protected...more

Fenwick & West LLP

SEC in Discussion with Exchanges to Ease Public Company Regulations

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The SEC is reportedly in discussions with Nasdaq and NYSE about ways to ease the burden of becoming—and remaining—a public company....more

Foley Hoag LLP - Public Companies & the Law

SEC Signals Potential Shift in Disclosure Requirements

Recent developments at the SEC highlight the Commission’s focus on reducing disclosure burdens for companies and encouraging public capital formation. SEC Executive Compensation Roundtable - Executive compensation...more

Bennett Jones LLP

TSX Venture Exchange Updates Escrow Policy for New Listings

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The TSX Venture Exchange (TSXV) has announced updates to its policy on escrow and resale restrictions. The immediately effective updates amended and renamed Policy 5.4 – Capital Structure, Escrow and Resale Restrictions (New...more

Herbert Smith Freehills Kramer

ASIC public and private markets update

Following the substantial feedback provided in response to ASIC’s discussion paper, ‘Australia’s evolving capital markets: A discussion paper on the dynamics between public and private markets’ (Discussion Paper) on 10 June...more

K&L Gates LLP

ASIC Trialling Fast-Tracked Initial Public Offerings

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On 10 June 2025, the Australian Securities and Investment Commission (ASIC) announced that it was commencing a two-year trial of a fast-tracked initial public offering (IPO) process (Fast-Track Process)....more

Orrick, Herrington & Sutcliffe LLP

SPAC (Re-)Attack: Top Considerations for Issuers Considering a De-SPAC Transaction

Continued volatility in the equity capital markets has revived what was thought to be a zombie after 2022 – the SPAC. There is an old investment banking mantra that they can do an IPO in a down market or an up market, but not...more

Conyers

Norway Bulletin 2025

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We are pleased to present the Conyers Norway Bulletin for 2025. This edition highlights key developments impacting Bermuda-incorporated companies in the Norwegian market over the past year. The Euronext Oslo Børs...more

Morgan Lewis

Regulatory Reforms and Market Incentives Announced to Revitalise Singapore’s Equities Market

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The Monetary Authority of Singapore (MAS), in coordination with the Singapore Exchange (SGX), recently announced the first set of measures, along with public consultations, designed to enhance the competitiveness of the SGX’s...more

Ropes & Gray LLP

Under New Rule, NYSE-only Listed Companies from Outside North America Can Comply with Holder Distribution Standards on a Global...

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On May 2, the Securities and Exchange Commission approved an amendment to Section 102.01 of the New York Stock Exchange (NYSE) Listed Company Manual allowing companies organized outside North America (i.e., outside the U.S.,...more

Fenwick & West LLP

SEC OKs Nasdaq's Changes to Initial Listing Reqs

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The SEC recently approved Nasdaq’s proposed changes to the initial listing requirements related to liquidity. Nasdaq proposed to change Listing Rules 5405 and 5505 to...more

DLA Piper

ASX Cross-Listings - An Additional Avenue for Resources Companies to Access Capital and Liquidity

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While market conditions continue to be challenging for IPOs, a growing number of listed resources companies from markets such as the TSX are pursuing ASX cross-listings (also known as dual listings). There are a number of...more

Latham & Watkins LLP

Recent Developments for UK PLCs May 2025

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On 14 April 2025, the FCA published its updated regulatory initiatives grid, which sets out its regulatory pipeline — the first update since the new UK government came to power. The new grid outlines the expected timings of...more

Mayer Brown Free Writings + Perspectives

Nasdaq Releases Policy Recommendations to Promote Capital Formation

In March 2025, Nasdaq released a comprehensive set of policy recommendations intended to advance capital formation in a paper titled “Advancing the U.S. Public Markets: Unlocking Capital Formation for a Stronger American...more

Jones Day

Hard Launch: TXSE Goes Public

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TXSE (pronounced TEX-see) announced on April 4, 2025 that its Form 1 registration is now public, putting it one step closer to Y'all Street. The announcement touted its proprietary “matching engine" that it believes will make...more

BCLP

London Stock Exchange Discussion Paper - Shaping the Future of AIM

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The ‘Jewel in the Crown’ of London’s markets, AIM has been a central feature of UK capital markets for the last 30 years providing growing companies with access to capital and liquidity. ...more

Bennett Jones LLP

TSX Proposes Amendments to Listing Requirements

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The Toronto Stock Exchange (TSX) has published for comment proposed amendments to the TSX Company Manual (the Manual). The amendments are intended to support capital markets by...more

White & Case LLP

Middle East sees strong IPO activity

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Long-term policy initiatives supporting the development of capital markets in the Middle East are paying off, with stock markets across the region supporting a cluster of large state-backed and private sector IPOs in 2024. ...more

Foley Hoag LLP - Public Companies & the Law

SEC Expands Confidential Registration Statement Submission Process

On March 3, 2025, the Staff of the SEC Division of Corporate Finance announced an expansion of the accommodations that allow issuers to confidentially submit draft registration statements (DRSs) for nonpublic review. This is...more

ArentFox Schiff

Nasdaq Amends Proposal to Modify Rule for Initial Listing Liquidity Requirements

ArentFox Schiff on

In December 2024, the Nasdaq Stock Market LLC submitted a proposal to the US Securities and Exchange Commission (SEC) to modify its requirements for calculating the minimum Market Value of Unrestricted Publicly Held Shares in...more

WilmerHale

2025 IPO Report

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This year’s IPO Report offers a detailed review of the IPO market and outlook, including a breakdown of IPOs by industry and the number of IPOs from the leading states over the past five years. We also take a look at the IPO...more

Latham & Watkins LLP

The Latham Global IPO Guide - 2025 Edition

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This is our global initial public offering guide. It will help you navigate the US portion of a global IPO – in other words, an IPO in which you sell locally listed ordinary shares to investors outside the United States under...more

WilmerHale

So You Went Public via a Reverse Merger? Are You a Shell Company?

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In recent years, a variety of alternative paths to public ownership and trading liquidity have emerged. The reverse merger is among one of the oldest alternatives to a conventional IPO for a private company seeking to become...more

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