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Raising Capital Through Securities Issuances – What Are the Options, and What Should Be Considered?
Raising capital through securities offerings can be an attractive alternative to traditional bank financing for companies. Is it generally required to prepare a securities prospectus for such an offering, and are there any exceptions to this rule?
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The Listing Act – What is Changing for Smaller Securities Issuances in European Prospectus Law?
The EU Listing Act aims to increase the harmonization and attractiveness of the European capital market and remove barriers for smaller companies raising capital. What does this mean in concrete terms for issuers of small-volume capital market issues? In which cases can the obligation to prepare a prospectus be omitted?
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Raising Money via the Capital Market – What Financial Information Must Be Included in a Securities Prospectus & a Securities Information Document (WIB)?
How can small and medium-sized enterprises benefit from simplifications regarding the disclosure of financial information in a securities prospectus or securities information document?
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ESG in the Securities Prospectus – ESMA Publishes Statement on Sustainability-Related Information Requirements
ESMA specifies which ESG information should be included in a securities prospectus. BaFin will take this into account when deciding on the approval of securities prospectuses.
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Securities Issuances of SMEs – EU Commission Plans Attractive Facilitations
According to a proposal by the EU Commission, cross-border fundraising is to be made easier for small and medium-sized enterprises (SMEs) in the future. What is the idea behind the plans?
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Capital Markets Union and Security Token – Which Country Should Be Chosen for a Security Token Offering?
The European commission intends to further develop and promote the free flow of capital within the Capital Markets Union. Numerus efforts have been made – and some have even been partially implemented – to reach this goal since 2015. The EU Prospectus regulation for example creates a uniform European framework for the creation and approval […]
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Passporting an STO Prospectus – How Can an STO Prospectus be Used for EEA-wide Offerings?
Numerous capital markets authorities throughout Europe approved security token offerings by now and thereby allowed the public offering of blockchain-based securities. Even in Germany, where the securities law still heavily relies on documents in paper form, a number of securities prospectuses regarding blockchain-based securities have been approved by BaFin. At the same time, the German […]
