UTC endorses Stock Exchange's SME rule change

THE Unit Trust Corporation (UTC) says it fully supports the recent TT Stock Exchange (TTSE) rule amendment about listing requirements for small and medium enterprises (SMEs).

The amendment, which took effect on August 22, reduces the public float requirement for SMEs from 30 per cent to 20 per cent, allowing companies to retain a larger share of ownership.

The change has been regarded as a positive development for SMEs, which account for about 85 per cent of all registered businesses in Trinidad and Tobago.

UTC noted in a statement that by lowering the public float threshold, companies can maintain greater control while still accessing capital through the stock market – an essential factor for driving growth and innovation.

UTC executive director Nigel Edwards commended the TTSE for what he described as a "forward-thinking" move.

"We look forward to companies leveraging the benefits it brings to the broader business community," Edwards said.

He added that the adjustment aligns with UTC’s goal of fostering growth through its Scale Up TT programme, which supports the expansion of SMEs within various industries across the country.

UTC encouraged SMEs to take advantage of the new regulation by reassessing their capital needs, ensuring compliance with the updated rules and using the lower float requirement to access capital while maintaining more ownership.