Regulatory changes have also focused on the conditions of admission which were implemented by a relaxation of fairly rigorous eligibility conditions that SMEs fall short of meeting. SMEs are therefore required to:
- Have the status of joint stock company ( JSC) and must designate, for a period of five (05) years, an attendant called'' Stock exchange promoter";
- Open its capital to a minimum of 10% no later than the day of the introduction;
- Publicly distribute its shares to a minimum of fifty (50) shareholders or three (03 ) corporate shareholders no later than the date of introduction in the stock exchange market;
- Publish the certified statements of the last two financial years, unless COSOB grants an exemption. Without prejudice to the provisions of the Commercial Code relating to corporations making public offering, conditions and minimum capital profits are not required for the company applying for admission to the SME market.
However, these conditions do not apply to a company being formed by public offer.
Corporate investors :
Are Securities Collective Investment Funds (OPCVM) , banks, financial institutions, insurance companies, investment funds and assets management companies.
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