The Warsaw Stock Exchange
The Warsaw Stock Exchange (WSE) is one of the leading stock exchanges in Central and Eastern Europe and at the same time one of the fastest growing in the EU. The markets list stocks and bonds belonging to local and international companies.
Companies that want to list on the Stock Exchange in Poland need to comply with certain requirements, choose the market on which they want to list and observe the disclosure requirements. If you want to register a company in Poland and then list it on the stock exchange, our law firm can help.
The Warsaw Stock Exchange Rules
The Warsaw Stock Exchange has several recommendations for best practice for listed companies as well as best practices for the management boards of the listed companies and their shareholders. The Code of Best Practice for WSE Listed Companies promotes transparency, communication between companies and investors, and the protection of shareholders’ rights.
A foreign company in Poland can have significant advantages if they choose to list on the Warsaw Stock Exchange, the most significant one being an increased visibility for the company and recognition from investors. The listed company can also raise more capital for investment and certain opportunities for mergers and acquisitions can appear.
The decision to list a company on the stock exchange is important and the company must be prepared to commit to new and more demanding requirements for disclosure and corporate governance standards. Our Polish law firm can help you decide to list your Polish company.
Listing requirements for companies
The listing requirements for the WSE Main Market and Parallel Market are:
– the company must not be under bankruptcy or liquidation proceedings;
– the value of shares/equity must be no less than the PLN equivalent of 15 million EUR;
– a certain dispersion of shares;
– the company must provide financial statements and the auditor’s opinions for at least past three consecutive financial years;
– the company must disclose information in English or Polish;
– the information must be disclosed through the system of exchange information.
Listing requirements also apply for companies that want to list on the NewConnect-the alternative for regulated markets and the Catalyst-the bond market.
You can contact our Polish law firm for detailed information about the disclosure requirements for all the markets available on the Warsaw Stock Exchange.