Dienstleistungsportal Bayern

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 state of the EEA.
• As the applying company, you must submit a prospectus approved by the German 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 disclosed annual financial statements for the 3 fiscal years preceding the application.
• The securities must - depending on their class - meet certain minimum requirements with regard to
  • expected market value,
  • equity capital,
  • total nominal amount or
  • number of shares.
• The securities must be freely tradable.
• The denomination of the securities, in particular the smallest denomination and the number of securities issued in this denomination, must take into account the needs of stock exchange trading and the public.
• Shares to be admitted to trading must be sufficiently diversified.

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

Legal bases

• § 32 Absatz 1 Börsengesetz (BörsG)
• Börsenzulassungsverordnung, EU-Prospektverordnung 2017/1129

Links to more information

• Zulassung von Wertpapieren zum Regulierten Markt