Source: BUS Sachsen-Anhalt (Linie6PLus)

Securities – Applying for admission to the regulated market

Description

If you want securities to be traded on a regulated market on a stock exchange, you need approval from the management. Unless the securities are already legally licensed.

Requirements

As a company that wants to issue a security, you must submit the application for admission to the stock exchange together with
- a credit institution,
- a financial services institution,
- an investment 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 established in another EEA State.
As an applicant company, you must submit a prospectus approved by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) or a notified prospectus. You must publish this on the stock exchange before the introduction of the security.
Your company must have existed for at least 3 years and you have published financial statements for the 3 financial years preceding the application.
Depending on their class, transferable securities must have certain minimum amounts relating to:
- expected market value,
- Equity
- Total nominal amount, or
- Have a number of units.
The securities must be freely tradable.
The denominations of securities, in particular the smallest denomination and the number of securities issued in that denomination, must take account of the needs of stock exchange trading and the public.
Shares to be admitted must be sufficiently diversified.

Which documents are required?

Certificate of approval from the German 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 collective certificate for securities
Articles of Association or Articles of Association in the currently valid version
Certified excerpt from the commercial register according to the latest status
Certificates of approval, if:
- the formation of the issuer,
- the conduct of its business activities, or
- the issue of the securities requires government approval
Evidence of the legal basis of the securities issue
Annual accounts and management reports for the last 3 financial years, including auditors' reports