Prime Standard

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The Prime Standard is a segment of the regulated market with additional post-admission obligations, in addition to the General Standard organized under private law, legally regulated market segment of the Frankfurt Stock Exchange with the highest transparency standards, while the requirement for inclusion in the indices DAX , MDAX , TecDAX and SDAX . The performance of this stock exchange segment is reflected in the PRIME All Share performance index (ISIN DE0007203325 , WKN 720332).

history

In the course of the general restructuring of the German stock exchange segments, the Prime Standard was set up on January 1, 2003. The aim was to create a stock exchange segment that would, among other things, prefer to attract international investors through mandatory publicity in English and transparency standards that go beyond legal requirements.

The first IPO in the Prime Standard took place with Wincor Nixdorf AG on May 19, 2004.

A performance index was created from all stock values ​​under the name Prime All Share (ISIN DE0007203325, WKN 720332) , which is intended to represent the development of all member companies on the stock exchange. This rose from a theoretically recalculated number of points of around 1000 points on May 19, 2004 - to 3083 points on July 16, 2007.

In the wake of the global financial crisis from 2007 onwards, the first quarter of 2008 was the first quarter since May 2004 in which no company in the Prime Standard dared to go public. The performance index subsequently fell to 1325 points on March 6, 2009. After that, it had recovered to its previous high by early May 2013 and rose to its previous all-time high of 5,077.58 points on May 16, 2017.

Admission requirements

The Prime Standard is a sub-area of ​​the regulated market that has to meet additional international transparency requirements and whose applicable follow-up obligations for stock corporations go beyond those of the General Standard . As in the General Standard, the following transparency criteria must be met:

In addition, however, is also required:

  • more detailed interim reports on the first and third quarter
  • Ad hoc releases also in English
  • At least one analyst conference annually
  • Company calendars and financial reports are to be drawn up and published in German and English
  • Company calendars and financial reports must be sent electronically to the management of the Frankfurt Stock Exchange

composition

Currently, 314 stocks belong to the Prime All Share (as of April 2017). B. are represented several times by ordinary shares and preference shares .

Financial reporting choices are limited, so disclosure is slightly greater. In addition, the sanction options (financial or exclusion from the Prime Standard) in the event of violations of the regulations are greater and more flexible.

According to the fee schedule of Deutsche Börse, the following costs arise for the admission of shares:

  • 3,000 euros admission fee
  • € 2,500 introductory fee
  • 12,700 euros annual listing fee plus 0.10 euros for every million euros or part thereof of market capitalization

Web links

Individual evidence

  1. ^ Deutsche Börse - Prime Standard
  2. ^ The indices of Deutsche Börse AG
  3. ↑ Wincor Nixdorf is listed on the Frankfurt Stock Exchange , Handelsblatt - Archiv, June 2, 2004, accessed May 22, 2017
  4. ↑ Historical prices for PRIME All Share , wallstreet: online, accessed May 22, 2017
  5. ↑ Prime Standard - the premium segment for raising equity - essential admission requirements , Deutsche Börse Cash Market, as of May 2017, accessed May 22, 2017
  6. ↑ An English language version is sufficient for foreign companies
  7. ↑ http://index.finanztreff.de/indizes_einzelwerte.htn?i=158379
  8. ↑ Prime Standard - the premium segment for raising equity - fees , Deutsche Börse Cash Market, as of May 2017, accessed May 22, 2017