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Requirements and procedures to list securities for trading on the Spanish stock market

Requirements for listing marketable securities of issuers

 

Issuers

Securities issued by Spanish and foreign limited companies may be listed for trading on the stock market, provided that their capital is fully paid up and they are not subject to any statutory legal restrictions prohibiting the trading or transfer of their shares.

Marketable securities may be promoted on the stock market at the request of an entity other than the issuer of said securities, and even without the consent of the issuer, pursuant to and enforced through their respective regulations or laws.

For an entity other than the issuer of the marketable securities to promote their listing for trading on the stock market, these securities must already be listed for trading on another EU regulated market.

The entity that promotes this issue is known as "the promoter".

The listing of marketable securities on another EU regulated market may also be promoted by the stock exchange management companies, which will be known as the promoter of the corresponding issuance.

Spanish listed companies that request to list their shares for trading o the stock market must have a minimum share of capital of €1,202,025. The portion of share capital corresponding to shareholders that directly or indirectly hold a minimum share of 25% or higher shall not be included in the calculation of this minimum amount.

Foreign listed companies that request to list their shares for trading on the stock market must have a minimum share capital of € 1,202,025 excluding the portion of share capital corresponding to shareholders that directly or indirectly hold a share of 25% or higher.

 

Issuers of Exchange-Traded Funds

Spanish and foreign marketable securities issued by collective investment institutions (UCITs) may be listed for trading if they comply with legal requirements governing UCITs.

 

Issuers of Warrants

Spanish and foreign marketable securities issued by companies may be listed for trading if they comply with applicable legal requirements.

 

 

 

 

 

 

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