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High Growth Segment (HGS)

The High Growth Segment of the Main Market of the London Stock Exchange is the newest market in the UK. It is designed for mid-sized European and UK companies that require access to capital and a public platform to continue their growth. It is only for equity shares and only for EEA incorporated issuers.

The HGS is an EEA Regulated Market, and hence companies admitted to trading are subject to the Disclosure and Transparency Rules including the financial reporting requirements. It is, however, an unlisted market and therefore the Listing Rules do not apply. There are some additional rules in the HGS Rulebook (link to London Stock Excange website) including:

  • Corporate governance requirements in rule B8, which are in practice already covered by DTR 7.2 (link to FCA handbook); and
  • Requirements to notifiable transactions to shareholders. The definition of a notifiable transaction is similar to that of a Class 1 transaction in the Listing Rules. However, the regulatory obligation is only to notify shareholders (rather than obtain their approval, as would be the case for a premium listed company), and only gross assets and profits of the subject of the transaction need be disclosed (rather than full financial statements, as would be the case for a premium listed company).

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.