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General Criteria
General Listing Criteria, are requirements valid for all the security classes.
- To be registered at least as a Limited Company (Ltd.) just in case of issuing commercial papers, or as a Joint-Stock Company (S.A) with a private offer in order to issue all the other securities and be quoted on Entry Market,
- To be registered as a Joint-Stock Company (S.A) with public offer in order to be listed/quoted in Standard Market and/or in Main Market,
- The listing/quoting applicant should comply the requirements for publishing its prospectus and disclosing other documents similar to it,
- The listing/quoting applicant’s securities should be freely payable and transferable,
- Appropriate procedures should be in place for clearing and settlement of transactions with these securities,
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Specific Criteria
Specific listing criteria are additional criteria beyond the general criteria mentioned above.
Specific listing criteria are mentioned as follows:
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Bonds and Short-Term Debt Securities
Main Market
Minimum capital value: one hundred and thirty million (ALL 130,000,000);
A minimum of three (3) years of activity prior to the listing/trading date;
Positive financial results during the two (2) years preceding the listing/trading date;
Standard Market
Minimum capital value: sixty-five million (ALL 65,000,000);
A minimum of two (2) years of activity prior to the listing/trading date;
Positive financial results during the year preceding the listing/trading date;
Audited annual financial statements for the last financial year preceding the listing/trading date.
Entry Market
No specific quantitative requirements apply for admission to trading of private debt securities;
In accordance with Point 6601/3, the Issuer shall publish the prospectus or any other relevant documentation in accordance with the procedures provided for in the ALSE Listing Guide;
The Issuer shall publish its annual financial statements on its official website, at a minimum in accordance with the National Accounting Standards.
Quotes of Investments Companies issued by SIK
Main Market
(a) All units must be issued through a public offering;
(b) Market capitalization exceeding one billion three hundred million (ALL 1,300,000,000);
(c) The percentage of units held by the public exceeding 50%;
(d) The number of unit holders exceeding 250;
Standard Market
(a) All units must be issued through a public offering;
(b) Market capitalization up to one billion three hundred million (ALL 1,300,000,000);
(c) The percentage of units held by the public up to 50%;
(d) The number of unit holders up to 250;
Entry Market
All units issued through a private offering shall be traded on the Entry Market.
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