City chiefs draw up plans to create new market in post-Brexit tech drive

City chiefs are drawing up plans to shake up the capital’s listing structure to attract fast-growing tech companies, according to reports.

The London Stock Exchange (LSE) has tabled proposals to erode the normal lines between public and private companies.

Private firms would be given access to a special market to allow them trade shares on specific days under the proposals.

The news was first reported by the Wall Street Journal.

The plans have been tabled to the Treasury and the City watchdog, the Financial Conduct Authority, according to a person close to the situation.

The plans would build on a drive to boost London’s post-Brexit attractiveness to rapidly expanding tech companies. A new listing regime that took effect last month allows founders of firms that float in the City to retain control over their business through introducing dual-class share structures.