Disclosure rules for listing on an exchange
Thursday 19 January 2012 - by Tamara Menteshvili
The first article in this series highlighted the various considerations to explore before deciding whether listing on an exchange was the best course of action.
Therefore the Market Authority at the CISX puts a lot of effort into ensuring that members and directors of CISX listed issuers understand their obligations.
Naturally with all listings, there will be conditions to meet and documents to prepare for vetting by the exchange. The application process varies depending on the type of product and its structure and whether the shares are already in issue prior to an application being made or whether some other process is envisaged such as a private placement.
In this regard, the listings department receives significant and valuable support from the exchange's listing members as part of the application process prior to the submission of documents to the exchange for consideration.
The listing member, or sponsor, will focus on the due diligence aspects of the process to ensure that the issuer and the underlying security are in fact suitable for listing.
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