Scale

ScaleEquity capital financing for small and medium-sized companies (SME)

Scale for equities, Deutsche Börse’s segment for small and medium-sized enterprises (SMEs), offers an efficient equity financing option.

With its prerequisites for inclusion tailored to the needs of SMEs, it facilitates the raising of capital and provides access to investors, both domestic and international.

Deutsche Börse's services support you with your IPO, increase placement reach and provide a number of benefits to ensure continued success: Deutsche Börse Capital Market Partners assist in preparing for the major step of entering the capital market and provide competent ongoing support. The research report service commissioned by Deutsche Börse improves transparency and comparability. Through the subscription functionality DirectPlace you are able to reach retail investors, family offices and asset managers.

An IPO creates strategic room for growth and innovation and increases your company’s public profile significantly.

Relevant target groups for Scale

  • German and European small and medium-sized companies (SME)
  • No sector or industry specification
  • Companies, seeking capital for growth
 

Our Services

Capital Market Partner

Capital Market Partner

Knowledgeable specialists support you in all kind of capital market-related questions. They offer you professional support for your listing of equities and corporate bonds.

 

DirectPlace

DirectPlace

Increase your placement reach and benefit from a balanced mix of investors. We support your placement with our subscription functionality DirectPlace.

  

Research Report

Research Report

Facilitate your visibility, transparency and liquidity through quantitative and qualitative research reports by Edison & Morningstar - which are commissioned by Deutsche Börse AG.

  

Marketing

Marketing

Deutsche Börse enhances your external com- munication on its web portals:

Interested?

Then you’ll receive further information in our explanation video "Capital Market Financing for SMEs".

 
 

Scale is a segment of the Open Market approved by Frankfurter Wertpapierbörse (FWB®, the Frankfurt Stock Exchange). The admission criteria and follow-up duties are to be found in the General Terms and Conditions of Deutsche Börse AG for participation in the Open Market for equity.

Overview of content

Key admission conditions

  • Inclusion documents or with a public offer valid and approved prospectus
  • Contract with supporting Deutsche Börse Capital Market Partner
  • Company history of at least 2 years
  • Estimated minimum market capitalization of € 30 million at the time of the inclusion into trading
  • Par value of at least € 1.00
  • At least 20 per cent free float or at least 1 million free float shares
  • Research report (submitted by research provider)

Admission is in response to an application by the issuer of the securities together with an Applying Deutsche Börse Capital Market Partner (bank or financial service institution). With its application, the co-applicant vouches for the completeness and accuracy of the statements made in the application and for the completeness of the documents submitted. The admission of securities to Scale constitutes a contractual legal relationship between Deutsche Börse AG and the issuer.

Fulfillment of at least three of the following criteria:

  • Turnover of at least € 10 million
  • Earnings of the year at least € 0
  • Equity capital more than € 0
  • Number of employees of at least 20 people
  • Cumulated, equity capital before IPO of at least € 5 million

Faster admission through E-Listing in Open Market

Since the introduction of the E-Listing in the Open Market, applications for admission can only be made in electronic form. Thanks to the advantages of digital communication both filing and processing the application take less time.

Alongside the approved prospectus, the following documents shall also be included with the application:

  • Confirmation of Applying Deutsche Börse Capital Market Partner about suitability of issuer for Scale
  • Excerpt from the commercial register
  • Articles of association
  • Annual financial statements of the last two years (last one audited)
  • If necessary bi-annual financial statements
  • Company profile
  • Corporate calendar