Trinidad and Tobago Stock Exchange Amends Rule For SME Market

• The Trinidad and Tobago Stock Exchange Ltd (TTSE) has announced the amendment of Rule 400(2)(g) in respect of the Special Market Listing Requirement for the Small and Medium Enterprise (SME) Market effective August 22, 2024.
• 'This amendment reflects our ongoing commitment to fostering growth and creating a more accessible environment for SMEs seeking to list on the Exchange,' the TTSE said in a media release.
• What it means is that the level of public float required for SMEs is now reduced to 20% of the total issued share capital, down from the previous requirement of 30%.
• 'This change is intended to encourage companies to utilise the TTSE SME Market to raise capital while maintaining compliance with necessary regulatory standards,' the TTSE stated.
• 'This amendment was carefully considered to balance regulatory compliance and market accessibility, making it easier for SMEs to meet listing requirements while still ensuring investor confidence and market stability,' it added.

(Source: Trinidad Express Newspaper)