Which of the following is NOT a requirement to list on the LSE?

To be listed on the London Stock Exchange (LSE), companies must meet certain requirements, but a trading history of five years is not a prerequisite for all types of listings. While some companies may seek to demonstrate substantial operational history through longer trading histories, the key requirement is primarily about maintaining investor confidence and ensuring adequate information transparency rather than a specific duration of history.

The LSE does necessitate other specific requirements, such as publishing a working capital statement to ensure that the company has sufficient cash flow to meet its liabilities, making at least 10% of the market capitalization available to the public, and having a minimum market value for bond issues, which helps in assessing the credibility and capability of the entity seeking to list.

Thus, the absence of a strict five-year trading history requirement distinguishes this option from others that are indeed essential for a successful listing.