INTERNATIONAL: Nasdaq First North Receives UK Growth Market Status

Monday August 21 2017

Nasdaq announced on 17 August 2017 that Nasdaq First North has been granted UK Growth Market status, the first marketplace outside of the UK to achieve this status. The new status means that UK-based investors will receive tax exemptions on investments in UK-based companies listed on Nasdaq First North, and is yet another step towards making Nasdaq’s marketplace more accessible to non-Nordic issuers and investors.

The approval decision from the UK Government’s HM Revenue & Customs covers Nasdaq First North in Stockholm, Helsinki, Copenhagen, Reykjavik, Tallinn and Vilnius, and specifically means that UK-based investors will be provided an exemption from the UK Stamp Duty Reserve Tax (SDRT). The SDRT is a tax on electronic, paperless share transactions and is normally charged at a flat rate of 1.5 percent of the total value of the investment.

Nasdaq First North was launched in 2006 and is home to close to 300 growth companies from a wide variety of sectors. It is currently the leading European IPO market for SMEs, having welcomed 115 new listings (capital raised: 1.1 billion EUR) since January 1, 2016.

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