Listings

Companies which are interested in raising capital and providing a market in their shares may benefit greatly from the various possibilities for listings in Malta. Listings can efficiently help your company grow as by giving up the ownership of a small percentage of your company on capital markets, company owners will receive capital which in turn can be invested in the company to stimulate growth.

One can opt for different listings types, namely the Malta Official Listing, the Alternative Companies List, the European Wholesale Securities Market and Prospects .

Why List in Malta?

There are various benefits surrounding listing in Malta which have already prompted several business owners to list their companies on our capital markets.

Malta enjoys a sterling reputation as a well-regulated and cost-effective jurisdiction in the EU, vaunting a skilled English-speaking professional workforce which has set up a secure, yet advantageous environment where to do business.

One of the main benefits of Malta listings is the fact that they give you passportability, thus allowing you to move freely within the EU and have your instruments traded on any EU market of your choice. Additionally, listings in Malta benefit from a multi-currency option, giving companies who seek to raise finance in non-Euro dominated currencies the chance to do so.

The local authority, the Malta Stock Exchange (MSE) has fostered a professional environment, offering cost-effective, personalised services which make it one of Europe’s most affordable capital markets. The Malta Financial Services Authority regulates the MSE and all other financial services, requesting the highest levels of diligence while keeping an open mind, which gives all Maltese financial services reputability, even beyond Maltese shores. Additionally, the MSE offers a highly networked infrastructure (including Xetra, Clearstream bilateral link, SWIFT and TARGET2)

Listings: Malta Official Listing

The Malta Stock Exchange (MSE) is Malta’s main capital market. The MSE is an ideal international platform for stocks and paves the way to do business within the European market.

Minimum Eligibility Requirements:

• Securities  must have a minimum market value of €1m
• Applicant must be an incorporated company
• Memorandum & Articles of Association must conform to listing rules.
• Share capital (fully paid up) amounts to €1m
• Present an Accounts history of a minimum of 3 years.
• Securities must be duly authorised, in accordance with the applicant’s place of incorporation and must be freely transferable and expected to enjoy adequate continuity of dealing.

Listings: Alternative Companies List

The MSE came up with an initiative to give smaller companies and investors who demonstrate the potential for growth, yet do not fulfil the rigorous requirements for the MSE Official Listing, the chance to list their stocks as well. The fruit of this initative was the Alternative Companies List (ACL). Besides benefitting from EU passporting, companies who list on the ACL will have international recognition for their stocks and access to international markets.

Eligibility requirements:

• Listing equity securities requires a minimum of €1m
• Subscription; €10,000 per investor depends whether equity or debt
• Share capital (minimum fully-paid up) of €50,000
• Applicant must be an incorporated company
• Securities must be freely transferable

Listings: The European Wholesale Securities Market

The European Wholesale Securities Market (EWSM) offers a unique trading platform for wholesale securities on a highly reputable, European-regulated market. The EWSM ensures review turnaround times, allowing applicants to plan their listing with certainty. The EWSM offers a coherent listing process at a simple, transparent price and while remaining approachable and responsive to market participants. Moreover, the EWSM is also a recognised market for the purpose of exemptions on withholding tax and grants EU passporting.

Eligibility Requirements

• A minimum denomination of at least €1m
• Applicant must be an incorporated company or established entity
• Memorandum & Articles of association or the constitution document must be in conformity to Listing Rules
• Securities must be freely transferable
• Willing to publish the annual report upon approval

Listings: Prospects

Prospects, which are market regulated as a multi-lateral trading facility operated by the MSE, are ideal for small to medium sized business which would like to access capital markets. Malta Prospects are fully compliant with the Markets in Financial Instruments Directive (MiFID) which harmonises the regulation of investment services and Multilateral Trading Facilities (MTFs) at EU level. Prospects grant cost effective and easy access to capital, with no need for security and collateral and give vast potential for increased turnover, employment and profitability.

Eligibility Requirements:

• Applicant must be an incorporated company
• The Memorandum and Articles of Association in conformity with Prospects rules.
• Enterprises must appoint a corporate advisor and devise a business plan
• A minimum share capital of €46,588.
• The Prospects platform caters for listing of equities and/ or corporate bonds