Nordic companies not ready to list on the stock exchange now have another option in Denmark, an OMX-hosted market with less stringent regulations meant to spur growth for small companies.
The technology and exchange giant argues that the marketplace would allow these companies a middle ground before making the leap to the stock exchange. The market is aimed at companies with a market value of up to DKK 400-500 million (EUR 50-70 million).
“By establishing an alternative Nordic marketplace, we will also be offering small companies a venue for raising risk capital and for professional and private investors to gain access to small unlisted companies via the same trading system used for trading shares listed on the OMX exchanges,” says Jukka Ruuska, president of OMX Exchanges.
The alternative marketplace will largely be regulated by the Copenhagen Stock Exchange, and the requirements will be more flexible than those governing the stock exchange. For instance, there is no requirement that a company must be operating for a minimum of three years, no capital minimum, and no stipulations on the distribution of management.
Member companies will not have to submit financial reports to International Accounting Standards Board, but will be assigned to an advisor to interpret relevant guidelines.