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Listing on the Regulated Market of Cyprus Stock Exchange

May 2019 - Finance. Legal Developments by Kinanis LLC.

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E. LISTING PROCESS

Depending on the method of listing, market and complexity of the issuer, the listing preparation and procedure can be summarized as follows:

(Please refer on our website for the chart)

F. ONGOING OBLIGATIONS

Irrespectively of the market, an issuer has to comply with the general continuous obligations of the CSE including but not limited to the following:

  • To comply with general CSE obligations depending on the market on which it has listed its securities
  • To maintain the services of a clearing agent
  • To publish every material information capable of helping the beneficiaries of its titles and the public to best assess its situation and evaluation of its titles
  • To timely announce important decisions of its Board of Directors
  • To publish every decision for the approval of financial results and their statements half-yearly and yearly.
  • To announce every information concerning a takeover, liquidation of its material assets or any other important transaction.
  • Further continuous obligations applicable to companies listed on the Main or Alternative market.

(Please refer on our website for the chart)

G. ADVANTAGES OF OBTAINING A LISTING

  • It provides overseas companies an opportunity to be listed on a regulated European market.
  • It provides additional transparency and security to investors.
  • It provides listed companies with an alternative means for raising capital.
  • It promotes the recognition and reputation of domestic and international companies.
  • The Regulated Market creates new investment opportunities for investors who wish to invest in mature companies with good capitalization.
  • Possible exceptions from CFC rules in some jurisdictions.
  • Possible exceptions from reporting obligations in public registers.
  • Possible exceptions from specific taxation is certain jurisdictions for property rich companies.

​H. KEY PLAYERS INVOLVED IN THE LISTING PROCEDURE

  • Lawyers
  • Accountants
  • Auditors
  • Underwriters

J. HOW KINANIS LLC CAN ASSIST

Our dedicated Financial Services team is ready to assist clients with:

  • Conversion of a company to public
  • Preparation of listing application to CSE
  • Review of prospectus and liaising with CySEC
  • Assistance in drafting of constitutional and other legal documents
  • Consulting in legal, tax and accounting matters
  • Directorship services
  • Corporate services such as secretary and registered office

Disclaimer: This publication has been prepared as a general guide and for information purposes only. It is not a substitution for professional advice. One must not rely on it without receiving independent advice based on the particular facts of his/her own case. No responsibility can be accepted by the authors or the publishers for any loss occasioned by acting or refraining from acting on the basis of this publication.

May 2019

Authors: Andri Michael - Partner, Elena Andreou - Associate