The Frankfurt Stock Exchange closes Open Market - First Quotation Board
(Free-Press-Release.com) February 21, 2012 -- Frankfurt, February 21, 2012. The Frankfurt Stock Exchange closes the "Open Market - First Quotation Board" segment for equity securities. The possibility of listing a company had been ended already back in December 2011. The final closing will take effect around Q3 of 2012. Therefore, companies listed on the First Quotation Board are urged to take action quickly.
The First Quotation Board of the Open Market has been an unregulated segment with no transparency requirements to the issuer following the initial listing. No prospectus was required for listings in the First Quotation Board if the listing was done in combination with a private placement to institutional investors………..
But the suspicion of market-manipulation in the First Quotation Board had led the German Stock Exchange to the decision to change the rules of listing.
According to the plans now announced by the German Stock Exchange, in order not to be delisted, shares must be upgraded to a higher segment (such as the Entry Standard, the General Standard or the Prime Standard). As a result, a public offering including a prospec-tus will be mandatory in the future. Issuers who fail or refuse to do so will have their shares delisted and their trading in the segment will be stopped. In this case, most likely there will not be any compensation for the holders of these shares.
Contact:
fr financial relations Gmbh
Jörn Gleisner
Gutleutstraße 75
60329 Frankfurt
+49 (0)69/ 95 90 83 -20
+49 (0)69/ 95 90 83 -99
info ( @ ) financial-relations dot de
http://www.financial-relations.de