Oslo Børs: Opening a new marketplace for start-up companies

Stock Markets — By on October 10, 2018 at 10:06 AM
10/10/2018 – Oslo Børs’ subsidiary company NOTC is launching Family & Friends, a list for start-up companies and family businesses.

Start-up companies often have family and friends as a source of capital and as shareholders. The new Family & Friends list will enable companies for which this is the case to acquire new owners and investors, and will facilitate access to trading shares in such companies.

Family & Friends represents the first step towards the marketplaces operated by Oslo Børs and is the step before the NOTC list. The new list uses the same information system for unlisted shares as NOTC. The requirements that companies will have to meet to be on the list are less demanding than for the NOTC list, while companies on the Family & Friends list will be subject to very limited continuing obligations compared with a stock exchange listing.

Family & Friends is an offer targeted at start-up companies, family businesses and other companies that wish to make interest in buying and selling their shares more visible or to identify a price for their shares.

Investors wishing to buy or sell shares will do so via a broker. Brokers will enter buying and selling interests into the NOTC system on behalf of investors. Investors and brokers will see this information and brokers will be able to agree trades. When a trade takes place, the buying broker will register this in the NOTC system.

The regulations for Family & Friends are simple, and both applying for registration and being registered on the list are undemanding. To apply, a company must have a market value of below NOK 100 million. The requirements which apply to companies registered on the list include publishing an annual report as well as information regarding their general meetings.

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