FTSE to tighten rules for foreign firms

FTSE Group will tighten the rules for foreign companies looking to join its major indices such as the FTSE 100, the Independent on Sunday reported. Foreign companies will have to sell at least 50 percent of their shares in London, up from 25 percent, to qualify for inclusion in the FTSE 100, 250 and SmallCap indices, the paper reported. The only way to avoid the new rules will be to incorporate the company in the UK.
Russian precious metals miner Polymetal is the latest company to say it is thinking about a top-tier London Stock Exchange listing, a source familiar with the plan said on Friday. FTSE Group is an independent company jointly owned by Pearson's Financial Times and the London Stock Exchange. It was not immediately available for comment.