Is my company large enough for the stock market?
According to the admission criteria pursuant to the Stock Exchange Act, the total nominal value (= share capital) required as a minimum is EUR 2.9 million for the admission of shares to the Official Market, and for the admission of shares to the Second Regulated Market, the minimum is EUR 725,000. As of 3 January 2018, the minimum requirement for the Official Market will be EUR 1.0 million. The Second Regulated Market will be discontinued as 3 January 2018 due to the amendment of the Stock Exchange Act.
What is the procedure for submitting an application for admission to the regulated market?
The admission procedure for the Official Market and for the Second Regulated Market requires the submittal of a written application that must also be signed by one trading member admitted to trading on the Vienna Stock Exchange. The application must be accompanied by:
- a listing prospectus approved by the Austrian Financial Market Authority (FMA) or an approved listing prospectus with the notification confirmation of the FMA
- a current version of the articles of association
- a current excerpt from the Companies Register
- at least one set of financial statements with an auditor's report
How long does the process last from the time of submittal of the application to the start of trading of the shares?
The decision on the admission to listing is taken by the management board of the Vienna Stock Exchange. The period between the time the application is submitted and the decision on the admission by the Vienna Stock Exchange is usually one week as of the time all documents have been received. Once a positive decision on the admission to listing has been taken, the subscription period for the shares has ended and the underwriting investment bank has allocated the shares, trading in the stocks may start on the Vienna Stock Exchange.
How do I obtain an ISIN?
An ISIN (International Securities Identification Number) is required for admission to the Vienna Stock Exchange. The ISIN is assigned by Oesterreichische Kontrollbank AG acting in its function as the central ISIN issuance body for Austria. The assignment of the consecutive ISIN is free of charge. When applying for an ISIN, it is also possible to request a specific ISIN.
Who is the person to contact for questions regarding the securitisation of shares?
All shares of a company must be securitised in one or several global certificates. Oesterreichische Kontrollbank AG in its function as the Central Securities Depository (CSD) in Austria acts as the paying agent for the securities of Austrian issuers admitted to the Vienna Stock Exchange. These global certificates are administrated and stored in the safe of OeKB CSD. These global certificates must be inputted into the IT system of OeKB CSD to be able to settle and clear securities transactions electronically.