Admission of securities to the Regulated Market
Decision of the Admissions Office of an exchange to admit a security to the Regulated Market
In order to have a security admitted to the Regulated Market, the issuer, together with an underwriting bank (a bank or investment company), must first submit an application and a listing prospectus to the Admissions Office. These documents provide information on the type and volume of the security to be admitted. The issuer and the bank are responsible for the accuracy of the contents.The admissions application is to be posted in the stock exchange building and published in the list of quotations (Kursblatt), in the journal for statutory stock market announcements (Börsenpflichtblatt) and in the Federal Official Gazette (Bundesanzeiger). The listing prospectus is published by the issuer in the journal for statutory stock market announcements. As soon as the company is admitted to the Regulated Market, the prospectus is to be made available free of charge at the underwriting banks and the Admissions Office named therein.Pursuant to the Stock Exchange Listing Act (Börsenzulassungsverordnung) the most important conditions for admissions and follow-up requirements are:The issuing company must have existed for at least three years.The expected issuing value must be at least ?1.25 million.For shares, the total par value must be at least ?250,000. At least one interim report on the financial situation and general business developments must be published during the financial year.Information that is relevant to the company must be published forthwith.