Obtaining an exchange listing helps entities increase their visibility to the public whilst also increasing potential investors’ confidence. Different instruments may be listed on the Malta Stock Exchange, including shares, bonds, collective investment schemes’ funds and financial instruments on securitization vehicles' cells.
Malta Regulated Main Market
In order to be able to apply for admissibility on the Malta Stock Exchange Main Market, an Issuer needs to appoint a licensed Sponsor. The role of the Sponsor is to guide the prospective Issuer and co-ordinate processes. The application must be signed by the Sponsor and the Directors of the Applicant. Once the Listing Authority at the Malta FSA has authorised the financial instruments as admissible to Listing, they would be eligible for admission to one of the recognised lists of the Exchange.
Malta Prospects MTF
The Prospects MTF is a multilateral trading facility operated by the Malta Stock Exchange directly. It provides a cost-effective opportunity for small and medium-sized enterprises to raise capital by issuing bonds or equity. Companies considering admission to Prospects MTF require the services of a Corporate Advisor prior to and following the admission process.
The issue size is limited at follows:
For Equity – value subject for new admission and any past issues (based on their market value) are not more than €8 million in total. After new admission issuance, the market value can go higher
For Debt – total nominal value of not more than €8 million nominal value, over a 12-month period.
The involvement of a Corporate Advisor ensures that transparency and corporate governance efficiencies are achieved and retained, thus instilling greater investor confidence. Prospects MTF is fully compliant with the EU’s Markets in Financial Instruments Directive (MiFID) and is managed and regulated by the Malta Stock Exchange which is the sole approver for admissibility on the exchange.
Malta Institutional Financial Securities Market
The Institutional Financial Securities Market is the third Market launched by the Malta Stock Exchange. This market is specifically designed for the institutional investors. The minimum denomination of financial instruments quoted on IFSM is Eur100,000 or the equivalent in any other currency.
The types of instruments that are admissible to the IFSM are:
Insurance linked notes
Convertible debt securities, and
The IFSM is regulated by the MFSA under the Wholesale Securities Market (WSM) Capital Markets Rules.
Listing in Other Countries
Should there be a need to list in other countries, Fiduscorp can also assist through its network partners.