Core Viewpoint - The role of sponsors in the IPO process on the London Stock Exchange (LSE) is critical for ensuring compliance with listing standards, adequate information disclosure, and maintaining market integrity. Group 1: Responsibilities of LSE IPO Sponsors - Sponsors are responsible for conducting comprehensive due diligence on the issuer to ensure transparency in business, financial, legal, and operational conditions [2] - They lead the preparation and review of the prospectus, ensuring compliance with the UK Prospectus Regulation and LSE requirements, with a focus on accuracy and completeness [2] - Sponsors must verify the issuer's compliance with LSE listing standards, including business authenticity, financial compliance, legal risks, and management capability [3] - Continuous post-IPO supervision is required to ensure adherence to listing rules and timely, accurate disclosures [3][4] Group 2: Key Points for LSE IPO Sponsors - Sponsors must demonstrate that they have taken "all reasonable steps" in due diligence, as failure to do so may result in liability for disclosure violations [5] - The "single responsibility principle" holds sponsors ultimately accountable for the overall accuracy of the prospectus, with potential regulatory penalties for misleading content [6] - For AIM market issuers, sponsors have heightened responsibilities for ongoing support and must implement internal quality control processes to mitigate risks [7] - AIM sponsors must closely monitor operational stability and report any non-compliance with public holding or market value requirements to the LSE [9]