[Last updated: 1 August 2024, unless otherwise noted]

All fees below are quoted excluding VAT.

Initial listing

The LSE charges fees on admission through a formula based on the market capitalization of the company. For example, a company with a market capitalization of £100 million (approximately US$127.32 million) would pay fees on admission of £147,320 (approximately US$187,568). A company with a market capitalization of £1 billion (approximately US$1.27 billion) would pay fees on admission of £449,370 (approximately US$572,138).

The LSE calculates market capitalization for these fees with reference to the number of shares for which application is being made and the opening price on the day of admission.

The FCA charges a fee of £16,310 (approximately US$20,766) for an application for eligibility for listing, and the same fee again to cover the transaction and document vetting fees in relation to any document (including those with a mineral expert's report attached) submitted for approval.

Ongoing fees

The LSE charges annual fees through a formula based on the market capitalization of the company at close of trading on the last business day of September of the previous year. For example, a company with a market capitalization of £100 million (approximately US$127.32 million) would pay fees each year of £10,650 (approximately US$13,560). A company with a market capitalization of £1 billion (approximately US$1.27 billion) would pay fees each year of £54,000 (approximately US$68,753).

The FCA also charges annual fees for the continuing regulation of listed companies through a similar formula. For example, a company with an ESCC listing (or closed-ended investment funds listing) and a market capitalization of £100 million (approximately US$127.32 million) would pay a base fee each year of £6,565 (approximately US$8,359). For ESCC category listings (and closed-ended investment funds listings) with a market capitalization in excess of £100 million (approximately US$127.32 million), the annual fee is the sum of a variable fee (calculated using a formula and based on the company's market capitalization) and the base fee. All other listed issuers must pay a fixed annual fee of £23,872 (approximately US$30,394).

The initial and ongoing fees charged by the LSE are revised annually in January. The FCA periodic fees are revised each 1 April.