Securities - Application for Admission to the Regulated Market

Securities that you wish to place on the stock exchange for trading on the regulated market must have been admitted beforehand.

Description

Prerequisites

  • As a company wishing to issue a security, you must submit the application for admission to the Exchange together with
    • a credit institution,
    • a financial services institution,
    • a securities institution,
    • the branch of a foreign company in Germany that conducts banking business or provides financial services, or
    • the German branch of a CRR credit institution domiciled in another EEA state.
  • As the applying company, you must submit a prospectus approved by the Federal Financial Supervisory Authority or a notified prospectus. You must publish this prospectus before the security is listed on the stock exchange.
  • Your company must have been in existence for at least 3 years and you must have published annual financial statements for the 3 financial years preceding the application.
  • The securities must - depending on their class - have certain minimum amounts with regard to
    • expected market value,
    • equity capital,
    • total nominal amount or
    • number of units.
  • The securities must be freely tradable.
  • The denomination of the securities, in particular the smallest denomination and the number of securities issued in that denomination, must take account of the needs of exchange trading and the public.
  • Shares to be admitted to trading must be sufficiently widely spread.

Required documents

  • Required Documents

    • Certificate of approval by the Federal Financial Supervisory Authority (BaFin) or the competent authorities of other member states of the European Economic Area (EEA)
    • Copy of the global certificate or global certificate for securities
    • Articles of association or partnership agreement in the currently valid version
    • certified excerpt from the commercial register in the latest version
    • instruments of approval, if
      • the establishment of the issuer
      • the exercise of its business activities or
      • the issue of the securities requires state approval
    • evidence of the legal basis for the issue of securities
    • annual financial statements and the management reports for the last 3 financial years, including the auditors' reports

Status:21.01.2024

Responsible for editing:Bundesministerium der Finanzen

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