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.




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.




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


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.


Key follow-up inclusion obligations

Certain obligations apply according to the Market Abuse Regulation and the German Securities Trading Act. The responsible authority for monitoring compliance with those follow-up obligations is the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin, German Federal Financial Supervisory Authority). In addition, issuers in Scale must fulfil the follow-up inclusion obligations set by Deutsche Börse AG as outlined below:

  • Submission of the audited annual financial statements including the management report within 6 months after the expiration of the reporting period
  • Submission of the half-yearly financial statements including the interim management report within 4 months after the expiration of the reporting period
  • Submission of information needed for the generation of research report updates to the research provider mandated by Deutsche Börse AG within the given period
  • Continuous updates and submission of the corporate calendar
  • Conduct of an information event for analysts and investors at least once a year
  • Ad-hoc disclosures, directors' dealings, insider lists (by law) as well as notification of Deutsche Börse AG regarding significant changes concerning the issuer or included securities (by rules & regulations)
  • Follow-up inclusion obligations are to be fulfilled in English or German.
  • If not declared differently in the rules and regulations, all reports and documents must be submitted to Deutsche Börse AG via the Exchange Reporting System (ERS®).