London Stock Exchange Introduces PISCES Platform for Trading Shares in Private Companies
London Stock Exchange has introduced a new transaction system called PISCES, which allows investors to trade shares in private companies. The first transaction under this framework involved the creation of a TPEIC structure to hold shares in Oxford Science Enterprises, an investment firm linked to Oxford University. This structure will enable trading through structured auctions on the Private Securities Market of the exchange.
LSE was the first company to receive regulatory approval for the PISCES platform, as part of the UK's efforts to boost growth, enhance capital markets, and prevent delistings. Oxford Science Enterprises, valued at 1.3 billion pounds, has investments in over 100 companies in areas like artificial intelligence, quantum computing, and life sciences.
The PISCES platform aims to provide visibility to smaller companies with limited capital market experience, allowing them to attract investors without undergoing a full initial public offering. London Stock Exchange's CEO, Dame Julia Hoggett, expressed excitement about the first transaction on the Private Securities Market, highlighting how companies can leverage the framework in innovative ways to meet their needs.
The launch of the PISCES platform marks a significant step in enhancing the trading of shares in private companies on the London Stock Exchange. This new framework opens up opportunities for companies to access capital markets and engage with investors in a more efficient and structured manner.