The purpose of the Guide to Listing and Trading in Luxembourg published by Bonn Steichen & Partners is to describe the procedures for listing and trading securities in Luxembourg, whether on the regulated market designated as the “Luxembourg Stock Exchange” or the multilateral trading facility designated as the “Euro MTF”.
There is a broad legal and regulatory framework governing the listing and trading of securities both at European Union and Luxembourg national level. In Section 1, we outline the most relevant laws and regulations applicable in this area as well as some other sources of information and guidance (such as circulars, Q&A publications, recommendations etc.) which are useful.
Section 2 deals with the prospectus as a precondition to listing and trading; we discuss the scope of the Prospectus Law and we describe the exemptions from the obligation to publish a prospectus. Furthermore, this section covers the obligatory content and format of a prospectus and the process of approval and publication.
Once a prospectus has been approved or if an exemption applies, an issuer may proceed with the listing and trading of its securities; the rules and conditions for admission to trading and listing and the procedure for application and approval are discussed in Section 3.
Finally, once securities are listed and admitted to trading, there are ongoing disclosure requirements which must be complied with. These are set out in Section 4 of this guide.
A hard copy of the Guide to Listing and Trading in Luxembourg is available upon request. To receive a copy please contact BSP Marketing team with your details at firstname.lastname@example.org.