The London Stock Exchange (LSE) has completed its inaugural transaction on a new platform utilizing the UK financial regulator's PISCES framework. This system enables the trading of shares in private companies.
The initial transaction involved the creation of an exchange-enabled investment structure holding shares in Oxford Science Enterprises, an investment firm linked to Oxford University. Trading will occur through structured auctions on the LSE's Private Securities Market.
The LSE secured early approval for its Private Intermittent Securities and Capital Exchange System (PISCES) platform, a move aimed at fostering growth and retaining companies within UK capital markets.
Oxford Science Enterprises, valued at approximately $1.75 billion, holds stakes in over 100 companies across artificial intelligence, quantum computing, and life sciences.
PISCES is intended to provide smaller companies access to investors without the need for a full initial public offering.