Norway’s oil fund slams UK’s plan for sovereign-controlled IPOs
NBIM, the manager of Norway’s huge sovereign wealth fund, has criticised a proposal by the UK’s financial regulator to create a new “premium listing” category for sovereign-controlled companies. The plan — which relaxes the rules this type of IPO — would be “a step back in terms of investor protection”, the Oslo-based manager says.
Norges Bank Investment Management (NBIM) has added its voice to criticism of a proposal by the UK’s Financial Conduct Authority (FCA) to change the stock exchange rules for new listings in cases where the companies are controlled by sovereign states.
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