Eipörssilistatut

Eipörssilistatut, also known as the "Estonian Stock Exchange Listing Rules," are the regulatory framework governing the listing and trading of securities on the Nasdaq Baltic Exchange, the primary stock exchange in Estonia. These rules establish the criteria, procedures, and ongoing obligations for companies seeking to list their shares or other securities on the exchange.

The listing rules cover various aspects, including eligibility requirements for issuers, such as minimum capitalization, liquidity, and shareholder structure. Companies must also demonstrate financial stability, transparency, and compliance with corporate governance standards. The rules outline specific conditions for different types of securities, such as equities, bonds, and derivatives, ensuring market integrity and investor protection.

The Nasdaq Baltic Exchange, which operates under these rules, is a key financial institution in Estonia, facilitating capital formation and providing liquidity for both domestic and international investors. The exchange adheres to international best practices, aligning with regulations set by the European Securities and Markets Authority (ESMA) and the European Union’s Market Abuse Regulation (MAR).

Companies listing on the exchange must submit detailed documentation, including financial statements, corporate governance disclosures, and compliance certifications. Ongoing obligations include regular reporting, such as quarterly and annual financial statements, as well as timely disclosure of material events affecting the company. The exchange monitors compliance to ensure transparency and fairness in trading.

Eipörssilistatut also address corporate actions, such as dividends, share splits, and mergers, ensuring smooth execution and investor communication. The rules emphasize investor protection by requiring issuers to maintain adequate disclosure practices and adhere to anti-insider trading and market manipulation provisions.

The Nasdaq Baltic Exchange’s listing rules are periodically reviewed to reflect evolving market practices and regulatory developments, ensuring they remain relevant and effective. Compliance with these rules is mandatory for all listed companies, reinforcing the exchange’s reputation as a reliable and well-regulated market.