London Stock Exchange pitches hybrid private market

With London's IPO fundraising at a 30-year low and its largest listed company, pharma group AstraZeneca, considering joining the exodus to the US, the London Stock Exchange Group (LSEG) is pinning its hopes on the new private securities market it plans to launch later this year under Pisces, the Financial Conduct Authority's proposed private intermittent securities and capital exchange system.

- Andrew Cave

Billed as a new way for private companies to access capital markets via the world's first regulated crossover or hybrid market, the idea is to provide private companies with periodic liquidity u