Wednesday November 23 2016
News Source: Global Exchanges
Focus: Other
Type: General
Country: Germany
On 1 March 2017, Deutsche Börse will launch a new exchange segment designed to enhance access to investors and growth capital for smaller and medium-sized enterprises (SMEs). As a segment of the exchange-regulated market, it will replace the Entry Standard for equities and corporate bonds. The General Standard and the Prime Standard will remain as Regulated Market segments.
The target group for the new segment encompasses companies which have already established their track record with investors. Admission requirements include cooperation with a Deutsche Börse Capital Market Partner that will verify whether a company is suitable for inclusion into the new segment. This will include a legal and financial due diligence process.
Admission and post-admission duties will also comprise mandatory research reports, to be commissioned by Deutsche Börse, designed to improve liquidity and enhance visibility to investors. Furthermore, companies listed in the segment will be subject to the Market Abuse Regulation, and will therefore be obliged to publish ad-hoc disclosures; they will also be obliged to maintain insider lists, and publish managers‘ transactions.
As a next step in this development, Deutsche Börse plans to launch an index mirroring the segment`s constituents.
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