Stockholm - Nasdaq has announced that Nasdaq First North has been granted UK Growth Market status, the first marketplace outside of the UK and Ireland to achieve this status. The new status means that UK-based investors will receive tax exemptions on investments in UK-based companies listed on Nasdaq First North, and is another step towards making Nasdaq's marketplace more accessible to non-Nordic issuers and investors.
"Nasdaq First North continues to attract a significant interest from companies outside the Nordics, in particular from companies based in the UK," said Adam Kostyál, SVP and Head of European Listings, Nasdaq. "We are continuously working to further improve our markets and view this as another step towards making Nasdaq First North the number one growth platform for European small and medium sized enterprises."
The approval decision from the UK Government's HM Revenue & Customs covers Nasdaq First North in Stockholm, Helsinki, Copenhagen, Reykjavik, Tallinn and Vilnius, and specifically means that UK-based investors will be provided an exemption from the UK Stamp Duty Reserve Tax (SDRT). The SDRT is a tax on electronic, paperless share transactions and is normally charged at a flat rate of 1.5 percent of the total value of the investment.