USX hopes Takeovers Code exemption will lead to more listings

Tue, 10 Dec 2019

Alternative stock exchange operator USX is hoping a law change passed last month will attract more companies to list on its trading platform.The law change exempts companies with less than $30 million in total assets and/or turnover below $15 million from having to comply with the Takeovers Code.Between 2006 and now, any company with 50 or more shareholders was subject to the code, a definition that captured most if not all USX issuers.The law change came after the Takeovers Panel decided the costs of complying with the code are unlikely to be...

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