Nordic Main Market
Boost Your Visibility
When listing with Nasdaq, you are automatically included in our segments, industries and indexes. This positions your brand in peer comparisons and surveys alongside companies that match your size and profile.
Being part of an index facilitates analysis and benchmarking, serving also to increase investor interest, as institutions and fund managers who track an index may choose to include your stock in their portfolios.
Meet Marie Parck, Listings and Capital Markets, Nasdaq, talking about the markets and listing opportunities.
Key Requirements for a Listing on Nordic Main Market
- Three years of operation and accounting records for those years
- Documented capacity for profitability
- Criteria regarding management, composition of the board, financial controls, supplying information to the market
- At least 25% of the shares in the company must be owned by the general public
- Total market value of at least 1 million euros
- Listing prospectus
Standard Listing Process
How Long Will it Take?
The listing process doesn’t need to take more than 3-6 months, provided a company is well prepared. Key factors are how much time management can devote to the process, the strength of the organization and board of directors, and accounting practices. The exchange also recommends that you appoint advisors (financial and legal) to help guide you through the listing process and to ensure the liquidity requirements are fulfilled at the time of listing.
What Are the Steps?
A company that considers applying for admittance to trading on Nasdaq agrees with the exchange to commence a listing process. Companies enter into a written agreement with the exchange regarding the trading of their shares, adherence to all rules and guidelines of the exchange, as amended from time to time, and commitments made to the exchange. The process and the documentation are kept confidential. On the first day of trading, Nasdaq hosts a welcome ceremony for the company, together with the advisors, at which key management and stakeholders monitor the opening and early trading in the stock.
Read detailed information in Rules & Regulations »
Fast Track Listing Process
Fast Track Benefits
Fast Track is a time-efficient, fixed time-line process for listing on Nasdaq Stockholm's Main Market. It is designed for companies that are very well prepared. Under the Fast Track process the time from the issuer's preliminary application to the Listing Committee's decision is five weeks, provided nothing unexpected arises.
Fast Track compared to a Standard Listing Process
Fast Track equals the Standard listing process in scope and detail of the exchange auditor review. A pre-audit, and documented measures taken after the audit, is the only additional formal requirement compared to the standard listing process. Fast Track provides companies that are very well prepared with a possibility to undergo review by the exchange auditor in a shorter time than companies which make supplementations during the course of the process. Therefore, compared to a Standard listing process the different process steps may be taken in a slightly different order, as in a Standard listing process late additions often are made.
Preparations for Application and Application Form
Before the start of a Fast Track process the exchange needs to assess whether the issuer is perceived to fulfil the listing requirements and to qualify for a Fast Track process without the process being delayed. Therefore, the applicant company is expected to be very well-prepared. Admission to undertake a Fast Track listing process does not constitute a guarantee of approval for admission to trading. The application form covers both Fast Track and the Standard listing process. The form is in two parts; an issuer application ('Application Form A'), which is submitted to start the review process, and an application to admit the issuer's shares to trading ('Application Form B'), which is submitted prior to the Listing Committee's meeting.
Fast Track Requirements in Brief
Due to the short time-frame the preparations prior to a listing must be largely completed and documented before the Fast Track process begins, entailing among other things that:
- the company has completed a pre-audit/pre IPO-review with documented measures; for details, please see the application form;
- the company can be deemed to fulfil the Exchange's listing requirements according to sections 2.3.5-2.3.8, 2.4.1-2.4.3 in the Rule Book for Issuers;
- the issuer presents a draft of the legal examination, including an honesty and integrity assessment of executive managers and the Board of Directors;
- the company has prepared a draft prospectus which is complete in all material respects;
- the company has completed Application Form A – Issuer Application and otherwise made preparations as set forth in the form.
Application Forms and FAQ
The same application form is used for Fast Track and the Standard listing process, whereas the majority of the information is mandatory only in Fast Track.
For price information, please see the current price list
Nasdaq offers a unique and attractive alternative for companies to become global players. Through our dual-listings, companies get access to investors worldwide, superior trading efficiency and increased global visibility. A secondary listing on Nasdaq makes you part of our large index family, further increasing your stock exposure to investors around the world.
Mirroring your business reach, a European dual-listing gives you the opportunity to broaden your investor base and increase visibility and brand awareness.
- Increased visibility and brand awareness
Gain attention in the European market from an investor, analyst and media perspective, resulting in a stronger brand awareness and additional research coverage. Greater visibility and a broadened investor base are achieved through inclusion in key Nasdaq indexes.
- Broadened investor base
Become eligible for inclusion in several types of equity funds targeting Europe, funds which you would otherwise not qualify for. Additionally, clock in more trades as you cross more time zones.
- Eligibility for inclusion in key primary European indexes
Companies listed on Nasdaq are all eligible for inclusion in our indexes, which in turn puts your company in front of institutional investors. The Stockholm 30 Index (OMXS30) is amongst the top four most traded blue chip indexes in Europe.
- Greater liquidity and valuations
With our world-leading exchange technology, high liquidity and best execution, our market is a more efficient place to trade. On Nasdaq, the spreads between bid and ask prices are narrower than the other major exchanges in Europe. This is the case for blue chips as well as small cap companies. Trades will grow, investor costs will decrease and your shareholders will benefit from minimal risk of price volatility.
The process for a secondary listing on the Nasdaq marketplace can take from one to four months, depending on where you have your primary listing.
If your stock is already listed on an approved stock market, you can use some of your current legal and auditor reviews to satisfy a number of our listing requirements.
European dual-listing (365 kb)