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Facilitated Stock Exchange Access for Small and Medium-Sized Enterprises at the VSE

Published: October 19, 2018; 15:16 · (Vindobona)

As a result of an amendment to the Austrian Stock Corporation Act (Aktiengesetz), as of 21 January 2019 it will again be possible for small and medium-sized enterprises and growth companies registered in Austria in the legal form of a stock corporation (AG) with small free float to gain access to the Vienna Stock Exchange via the newly created market segments "direct market plus" and "direct market".

Headquarters of the Vienna Stock Exchange (Wiener Börse AG) in Palais Caprara-Geymüller, Wallnerstraße 8, 1010 Vienna, Austria. / Picture: © Wikimedia Commons / Thomas Ledl [CC BY-SA 4.0]

The Vienna Stock Exchange welcomes the political decision to reopen the Third Market for Austrian small and medium-sized companies.

An amendment to the Austrian Stock Corporation Act (Aktiengesetz) will open the door to the stock exchange for domestic small and medium-sized enterprises as well as growth companies next year.

The Vienna Stock Exchange is planning the launch date of 21 January 2019 for the new market segments direct market plus and direct market. They will replace the segment mid market in the future.

Small and medium-sized Austrian companies, which form the backbone of the Austrian economy, will have easy and cost-effective access to the stock exchange.

  • > Easy entry to the stock market for domestic stock corporations with small free float
  • > direct market plus: A "plus" in service and attention for a "plus" in transparency
  • > Candidates benefit from the experience of the "direct network

"The new offer is aimed at stock corporations with a number of shareholders in the low double-digit range. The need is there, as our concrete letters of intent show. Some are looking for the trading aspect, some only need a pure listing. This brings order, visibility and the prospect of easier funding for the companies. Depending on the strategy, development into further segments can then follow," explains Christoph Boschan, CEO of the Vienna Stock Exchange and its holding company.

The direct market forms the basis with low requirements.

In the direct market plus, companies must have a minimum holding period of one year, publish annual financial statements and half-yearly interim reports, maintain a corporate calendar and be accompanied by a capital market coach. In return, the listing offers companies a plus in service and attention.

In order to optimally prepare companies for being public, the Vienna Stock Exchange also makes a contribution to revitalising the associated ecosystem with its direct network.

The core idea of the direct network is the transfer of knowledge and the establishment of personal contacts to consultants and investors.

All partners in the network have a track record of IPOs or have experience in the field of pre-IPO financing.

About the Vienna Stock Exchange

The Vienna Stock Exchange is the only securities exchange in Austria. It features a modern infrastructure and supplies market data and relevant information. It offers Austrian companies maximum visibility, high liquidity and utmost transparency. Investors can rely on the smooth and efficient execution of exchange trades. The Vienna Stock Exchange operates a central market datafeed for Central and Eastern Europe (CEE) and is well established as an expert for the calculation of indices with a reference to the region. Wiener Börse AG, together with its holding company, CEESEG, cooperates with over ten exchanges in CEE and is globally recognized for this unique know-how.

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