A new market called the Emerging Companies Market (“ECM”) of the Cyprus Stock Exchange (“CSE”) benefits from a simplified regulatory regime specifically designed for small and emerging companies. ECM of CSE is considered as a Multilateral Trading Facility (MTF) according to “the provision of Investment Services, the exercise of investment activities, the operation of regulated markets and other related matters” Law 144(I)/ 2007, and is aimed at:
- Private companies seeking funding and easy access to the secondary market;
- Investors seeking a new type of investment;
- Public companies reluctant to incur the higher costs of regulated markets.
When the decision to float has been taken, a critical appraisal of the company’s business is required, to identify whether it meets the ECM admission requirements, as follows:
- General suitability – preparation and planning;
- Eligibility for admission;
- Continuing obligations and filing requirements.
A Nominated Advisor (“NOMAD”) is the Legal Entity appointed by you, and which must be retained at all times to advise you and to ensure that your company complies with the relevant ECM rules on an ongoing basis.
We can offer you the following NOMAD services:
1.During the admission procedure
- facilitating the company’s admission to ECM;
- appraising the appropriateness of the company for listing to the CSE;
- ensuring compliance with the ECM rules;
- preparing the admission document; and
- project management of the overall process leading to a listing.
2.After the admission procedure
- evaluating and presenting you to the CSE ensuring that the listing requirements are fulfilled;
- representing the issuer through the listing procedure;
- advising you in respect of the compliance of the continuous obligations:
- Monitoring and assisting you according to the rules and regulations of the ECM in fulfilling your obligations;
- Advising you in respect of your obligations and taking any appropriate measures for the fulfilment of these obligations;
- If you do not comply with your obligations, the NOMAD will take any necessary actions in order to remedy any failure, while informing the CSE on the nature of the failure and the measures that you have undertaken.
- assisting with comfort letters and related procedures;
- risk management advice; and
- market practice input.