Scale

ScaleEquity financing via DBAG's SME Growth Market

Scale for shares, Deutsche Börse’s segment for small and medium-sized enterprises (SMEs), offers an efficient way of equity financing via a formally registered SME Growth Market according to EU-standards.

The inclusion requirements and follow-up obligations of Scale are tailored to SMEs, thus facilitate raising capital and open the door to national and international investors.

Deutsche Börse services support the IPO, increase the placement range and offer advantages for successful trading on the stock exchange: Deutsche Börse Capital Market Partners help you to prepare the step of going public and offer competent ongoing support while being public. Research Reports commissioned by Deutsche Börse ensure transparency and comparability and the special subscription functionality DirectPlace enables you to reach family offices, asset managers and retail investors.


An IPO creates financial scope for growth and innovation and increases the public awareness of your company.

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

Network of best experts advising you in preparation for listing and giving support with being public.
 

 

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 research reports - 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.

Inhaltsverzeichnis

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