Instant IPO

Shell Company – SPAC

Companies that are already traded on the stock exchange can be uplisted to higher market segments at any time, provided the admission requirements are met. Companies with no previous stock market experience often prefer a listing in the regulated unofficial market first in order to be able to apply for a listing in the quality segment of the unofficial market or a listing in the regulated market if required.

If a large shareholding is intended, the purchase of a shell company from an OTC segment, which also includes the quality segments Scale, Primary Market and m:access, also protects against the obligation to make a takeover bid to the free float in accordance with the provisions of the German Securities Takeover Act (WpÜG). The obligation to submit a takeover bid only applies to the acquisition of a company that is admitted to the Regulated Market. As more than 30 % of the share capital is regularly acquired in the case of a shell company purchase, this would lead to an obligation in the case of the Regulated Market, but not in the case of the Regulated Unofficial Market.

Uplisting to the quality segments of the Regulated Unofficial Market is governed by the respective rules and regulations of the stock exchange.

An upgrade to the statutory Regulated Market is essentially governed by the Börsenzulassungsverordnung (BörsZulV) and, in concrete terms, by the respective stock exchange regulations.

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