General Standard

General Standard

In the General Standard segment, the mandatory stipulations for the Regulated Market apply. The individual admission criteria and follow-up duties are to be found in the Exchange Act, in the Decree on Exchange Admissions and in the Exchange Rules and Regulations for FWB® the Frankfurt Stock Exchange. On receipt of an application, the management of the Frankfurt Stock Exchange decides on admission to the Regulated Market (General Standard).
Issuers in the General Standard meet the Regulated Market’s high transparency requirements. The General Standard is therefore primarily intended for medium-sized and large corporations who seek to address national investors and want to use a cost-effective listing for that purpose.

The step-by-step route to an exchange listing

Our IPO Line gives you a clear impression of all the important steps in going public through to first price determination. They include the selection of the issue partners, structuring the bond, compiling all the necessary documents, placement, and admission to / commencement of trading in your company’s securities.

Overview of content

Key participation conditions

  • Valid and audited securities prospectus
  • Reporting history dating back at least 3 years
  • Probable total price value of at least EUR 1.25 million
  • Number of shares admitted to trading to be at least 10,000
  • Free-float to be at least 25%

The admissions procedure is initiated by a written application for admission that shall be submitted by the company together with the so-called issue underwriter, a bank or financial service provider that is authorized to trade at an exchange in Germany. The securities must be eligible for delivery by Clearstream.

Alongside the approved securities prospectus, or should the approvals process at the Federal Financial Supervisory Authority still be ongoing, a draft of the prospectus, the following documents shall also be included with the application:

  • Copy of filing with the Commercial Register
  • Articles of incorporation or company agreement
  • Resolutions by the Management and Supervisory Boards
  • Certificate of incorporation
  • Copy of the global certificate
  • Audited annual financial statements for the last 3 years