1. Listing requirements

Art. 85
Duration

In derogation of Art. 11, the issuer must have existed as a company for at least two years only.

See also:

• Directive Track Record (DTR)

Art. 86
Annual financial statements

In derogation of Art. 12, the issuer must have produced annual financial statements that comply with the financial reporting standards that apply to it for only the two full financial years preceding the listing application.

See also:

• Directive Financial Reporting (DFR)

Art. 87
Capital resources

¹ In derogation of Art. 15, the issuer's reported equity capital on the first day of trading must be a minimum of only CHF 2.5 million.

² If the issuer is the parent company of a group, the above requirement refers to consolidated reported equity capital.

Art. 88
Free float

¹ In derogation of Art. 19, the free float is regarded as adequate if at least 20% of all of the issuer's outstanding securities in the same category are in public ownership, and the capitalisation of those securities in public ownership amounts to at least CHF 5 million.

² If securities of other categories, issued by the same issuer, are already listed, a minimum capitalisation of CHF 2 million is adequate for the listing of further securities in accordance with Art. 88 para. 1.

See also:

• Distribution of Equity Securities