The London Stock Exchange is preparing to host its first deal on its new Private Securities Market within weeks. This marks the initial transaction under the UK financial regulator's PISCES framework.
The inaugural transaction involves TPE creating an exchange-enabled investment structure, a TPEIC, to hold shares in Oxford Science Enterprises. This firm, linked to Oxford University, is valued at 1.3 billion pounds and invests in over 100 companies across artificial intelligence, quantum computing, and life sciences.
The TPEIC, or Tradable Private Equity Investment Company, will enable trading via structured auctions on the exchange's Private Securities Market.
PISCES, the private intermittent securities and capital exchange system, is a new stock market initiative aimed at increasing investment in private companies. The London Stock Exchange was the first to receive regulatory approval for this system.
LSE CEO Dame Julia Hoggett expressed delight, stating the move demonstrates how companies can innovatively use the framework to access solutions tailored to their needs.