Oslo Børs: Induct first on Merkur Market

Stock Markets — By on December 15, 2015 at 7:58 AM
oslo bors15/12/2015 – The software company Induct is the first company ready to be admitted to trading on Oslo Børs’ new marketplace, Merkur Market.

When Oslo Børs opens Merkur Market on 13 January 2016, Induct will be the first company to ring the starting bell.

There is a good level of interest in the new marketplace, and several companies have been keen to ring the bell on the first day of trading. Induct is at the front of the queue, however, following yesterday’s decision by the Oslo Børs Admissions Committee to admit the company to trading on Merkur Market.

Merkur Market is an option for smaller and medium-sized companies that want simpler access to the capital markets, as well as for large companies that do not satisfy the admission requirements or do not wish to be fully listed on a regulated market. Both private limited companies, public limited company and issuers of equity certificates can be admitted to trading on Merkur Market. On Merkur Market, companies can raise equity without taking on all the obligations that come with a full listing.

The admission requirements to Merkur Market is less comprehensive than the requirements to the established marketplaces of Oslo Børs, and the admission processes on Merkur Market are quick and flexible. A company may be approved for listing by the Admissions Committee in 15 trading days. We also offer a fast-track process of six working days.

The continuing obligations arising from admission to listing on Oslo Børs and Oslo Axess have been simplified for companies admitted to trading on Merkur Market. However, companies admitted to trading on Merkur Market are required to publicly disclose inside information without delay and on their own initiative and also to publish accounts regularly. Companies on Oslo Børs and Oslo Axess are required to use IFRS and to produce quarterly reports, but on Merkur Market companies are allowed to use other accounting standards and to publish only half-yearly reports.

Trading takes place in the same way on all three marketplaces, which is via electronic order book trading using the Oslo Børs trading system for all shares and equity certificates on Oslo Børs, Oslo Axess and Merkur Market. Nordic and international investment firms that are members of Oslo Børs and Oslo Axess are able to trade on Merkur Market.

Oslo Børs’ market surveillance activities are also the same for the three marketplaces.

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