FRC calls for end to easing of pre-emption rules


The Financial Reporting Council (FRC) says listed companies will have to resume first-refusal rights for existing shareholders when they raise capital, bringing an end to a relaxation of pre-emption rights rolled out in March. The FRC-based Pre-Emption Group has said the relaxation in pre-emption rights, which was designed to speed up capital-raising for companies hit by the pandemic, will not be extended beyond the November 30 deadline. This means that as of December, firms will have to resume giving existing shareholders first refusal on new share issues.


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