Main Board Listing18 Jan 2021 11:58
Given the increase in mrk cap, coupled with increase in daily volume and (monetary) size of trades, ITM should consider a main board listing, either premium or standard.
As ever, there are pros and cons. On the plus side, (potentially) greater institutional investor involvement, hopefully with longer-term horizons, thereby reducing price volatility, especially if a premium listing is taken out giving qualification for FTSE index inclusion. Better corporate governance, again supporting greater II involvement. Move to order book trading, rather than being dependent on market makers.
There are downsides, of course. Stamp duty will be payable on buys. IHT exemption will be lost. More costly for the company, in terms of both money and (senior) management time.
But, for the company to be considered a "major" player, especially on the international scene, a move to the main board should be high on the Board's agenda.