Become Listed Company: Going public

A company that decides to list its securities on a stock exchange must first complete the following steps:
  • the decision to list the securities is taken in accordance with the company's decision making procedure  (board resolution / general meeting resolution),
  • the company carries out, if necessary, other preparatory procedures for the issue of securities (e.g. conversion into a joint stock company),
  • when necessary, fulfilment of the obligation to draw up and approve a prospectus for a public offer and/or the admission of securities to a regulated market,
  • the execution of the procedure for the public offer of securities or the subscription of securities,
  • the issue of securities in the central register of the KDD,
  • the filing of a request for the listing of securities on a stock exchange.
When deciding whether to list a security on a stock exchange, a company is advised to consider in advance which market or market segment is most suitable for it.
  • Presentation of the LJSE markets
    Market type Regulated Market Mutiliateral Trading Functionality (MTF)
    For which companies? Larger, more mature companies SMEs and start-ups
    Listing conditions > (prospectus) < (Listing Document)
    Reporting obligations > (ZTFI, MAR, LJSE rules) < (MAR, SI ENTER Rules)
    Trading rules = =
    Access to the market = (all members) = (all members)
  • Check whether your company is ready for listing
    • Is your company organised as a public limited company or is it about to become one?
    • Are the current owners willing to sell or reduce their shareholding and influence in the company?
    • Is the company prepared to adopt high standards of corporate governance?
    • Is the company prepared to commit to high standards of reporting on its business?
    • Is the management willing to invest sufficient time in communicating with the investing public, investors and participating in the presentation of financial performance indicators?
    If you answered YES to most of the questions, then your company is ready to go public.
    If you need additional funding or are looking to exit ownership of your company and do not want to commit to the highest standards of the capital market, the SI ENTER market may be a suitable alternative for your company.
    However, exiting ownership or raising additional capital is not a prerequisite for listing, you can do this with your current structure, and by listing you improve your corporate governance and simply prepare the springboard for possible major changes.