How to be listed?


There comes a time in the dynamic growth of a company when it starts to consider a range of options to raise capital for expansion. One way is to go public by issuing securities dedicated to an unlimited group of potential buyers. Securities issued by public companies are traded on the Warsaw Stock Exchange.

GPW is where company valuation takes place and where issuers’ needs to raise further financing meet free capital of investors who are looking for investment opportunities and may provide companies with necessary funding. With access to an unlimited number of potential buyers of securities, listed companies stand a much better chance to complete a successful issue and raise capital for growth.

By taking advantage of that fact, issuers may improve their market position considerably.

What are the benefits of going public on the exchange?

 
 
Raising attractive capital for growth (which is the main objective)
 
Improving the image and reputation of a company which goes public
 
Broader recognition of the company and its products
 
Generating a market valuation of the company
 
Gaining tools to offer management stock options based on liquid instruments of the capital market
 
Opportunities of financing acquisitions
 
Improved structure of the company’s ownership and organisation

How to become listed on the exchange?

Only a joint stock company may be an issuer of shares listed on GPW. This does not bar entities operating under any other legal form from listing, but their owners need to transform them into joint stock companies or establish joint stock companies and transfer the entities’ assets thereto.

Listed companies come from many sectors of the domestic and international markets and the exchange is open to companies of different business profiles.

 

Source: GPW, 31/12/2016


 

Discover the procedure of going public

  1. 1

    Preparing for the process

    Only a joint stock company may be an issuer of shares listed on GPW. This does not bar entities operating under any other legal form from listing, but their owners need to transform them into joint stock companies or establish joint stock companies and transfer the entities’ assets thereto.

    As a next step, the General Shareholders Meeting should adopt a resolution approving a public offer of shares, dematerialisation of the shares, and an application for admission of the shares to trading on the regulated market.

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  2. 2

    Implementing the process

    The next step in going public on the exchange is to place the public offer. The process consists of two main phases:

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  3. 3

    First listing on GPW

    Before the introduction of securities into trading on the exchange, the issuer should file the appropriate documents with the Central Securities Depository of Poland (KDPW) together with an application for the registration of the securities which are to be introduced into exchange trading (for shares in a public offer, not earlier than the allocation of the shares to the subscribed investors).

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  4. 4

    Staying listed on GPW

    Disclosure obligations

    The disclosure obligations of companies whose securities have been admitted to trading on the GPW regulated market are not materially different from the requirements imposed on companies listed in other developed capital markets of the European Union.

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If you are interested in introducing shares to exchange trading on NewConnect, please visit the market website.

If you are interested in issuing and introducing bonds to trading on Catalyst, please visit the market website.