The Finnish Foundation for Share Promotion published a new, updated edition of the Issuer’s Handbook on 5 December 2014. The first edition of the Handbook came out in 2012. The goal of the Handbook is to lower the threshold for new listings, to support growth companies by providing information about the issue market and to promote share issues on First North Finland. The capital market experts at Castrén & Snellman once again assisted in drafting the Handbook.
First North Finland is an alternative market to the main exchange, operated by NASDAQ OMX Helsinki. Instead of being bound by strict, Europe-wide stock market regulations, First North companies are subject to a lighter regulatory regime aimed at growth companies. During 2014, six companies have listed on First North Finland. Castrén & Snellman advised in four of these six issues (Verkkokauppa.com, Nixu, Herantis Pharma and United Bankers).
In addition to Castrén & Snellman, the Issuer’s Handbook received contributions from Euroclear, the Finnish Financial Supervisory Authority, KPMG, NASDAQ OMX Helsinki, Nordea Corporate Finance, Merasco, Pohjola, Privanet, PwC, Summa and United Bankers.
The Issuer’s Handbook contains information on the listing process as well as model documents for listing, such as a model company description. In addition, the new updated Handbook provides information on the goals and advantages of listing, as well as pre-listing actions and life on the market after the issue. The Handbook also includes case examples of listed companies.