FCA confirms cuts in costs of capital raising

The FCA has confirmed its proposals to make it cheaper for companies to raise money. The confirmed changes include:

• in most cases, companies will not have to publish a prospectus when raising further capital (the threshold is raised to 75% of existing share capital, from the current 20%);
• IPOs that include the wider public can come to market 3 days after the prospectus is published (currently 6 days);
• a single disclosure standard for corporate bond prospectuses; and
• new platforms for public offers run by authorised firms to make it easier for companies to make offers of shares or bonds above �5m without a lengthy prospectus – essentially crowdfunding platforms but for larger deals.

Generally the changes will take effect on 19 January 2026.