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Palace Capital seeks to have shares admitted to Official List

U.K. property investment company Palace Capital PLC filed for a premium listing of its shares, saying the move will support its long-term strategy by providing a more appropriate platform for growth.

The company filed a prospectus, which was approved by the U.K. Listing Authority, to have its shares admitted to the premium listing segment of the Financial Conduct Authority's Official List and admitted to trading on the main market for listed securities. Its shares trade on the AIM market of the London Stock Exchange.

Admission to the Official List will also raise Palace Capital's profile, boost trading liquidity and expand its pool of potential investors.

Palace Capital will not issue new shares in conjunction with the proposed admission. It expects admission to the Official List and to start trading on the main market on March 28. The last day of trading on the AIM will be March 27.