According to information obtained by News, the LSE is in advanced talks to license PrimaryBid’s regulated dealmaking activities, significant UK operations, and retail capital-raising technologies.
In addition to its talks with the LSE, Sir Donald Brydon, the seasoned businessman who formerly chaired the parent firm of the stock exchange, is to resign from his position as chairman of PrimaryBid, according to City sources.
Sir Donald is departing the company as it transforms into a pure-play technology company, having joined less than three years ago.
For a number of years, the London Stock Exchange Group (LSEG) has been a minor shareholder in PrimaryBid.
The purpose of PrimaryBid’s discussions with the LSE is to prepare for the ultimate listing and prospectus regulations in the UK, which will increase the allure of the London market for issuers and investors.
According to a story published in The Financial Times this week, the city regulator has decided to proceed with revisions, which might include combining the premium and basic listing categories of the London market into one category as early as next month.
