Listing

The listing of a company or its shares varies with the security and transaction type. Listing is governed by the Listing Rules, Additional Rules, Directives, Circulars and Communiqués.

Types of securities that can be listed

There are two basic types of securities listed on the SIX Swiss Exchange:

• Equity securities (shares, participation certificates, cooperative shares, bonus certificates, investment fund units, individual/umbrella funds, ETFs, ETSFs) » show more

  Equity securities constitute claims against a company or an association and belong to the beneficiary in his or her capacity as a member of the company or association.

  These claims may be in the nature of ownership rights exclusively, but they may also entitle the holder to participate in the organisation. Depending on the organisation's legal status and the nature of the right, one or the other of these aspects is more important.

  Usually, equity securities confer a claim to a share in earned profits and liquidation proceeds, if any. It is tradeable and fungible equity securities which are chiefly relevant in connection with the stock market.

  Examples of non-tradeable equity securities are shares in limited partnerships and limited liability companies. « hide

• Debt securities (bonds, derivatives) » show more

  Debt securities are asset-linked claims of a creditor against a debtor. The claims are for payment of a monetary debt.

  Debt securities traded on the stock market include derivatives and various kinds of bonds.

  Debt securities differ from equity securities in that there is no right attached to them to participate in the company. Subject to contrary contractual arrangements, the beneficiary cannot contribute to the decision-making of the debtor or affect the way assets and revenue are used.

  The creditor's claim is independent of the debtor's success. « hide

Listing application

A listing application must be submitted in writing by a representative recognised by SIX Exchange Regulation as knowledgeable. It may be written in German, French, Italian or English. The application must be submitted to SIX Exchange Regulation at the latest 20 exchange days prior to the intended listing date. It must include a brief description of the security and a request regarding the scheduled first trading day.

To be submitted along with the application are, among other things, the following documents:

• Listing prospectus;
• Listing notice (only for equity securities);
• Declaration that the printing regulations of SIX SIS Ltd have been maintained (if applicable) or a photocopy of the global certificate;
• Extract from the Commercial Register;
• Articles of association;
• Declaration of the lead manager regarding distribution under Art. 19 Listing Rules;
• Declaration of the issuer in accordance with Art. 45 Listing Rules.

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IPOs at SIX Swiss Exchange
Declaration of Approval
Declaration of Approval (italian version)