The NewConnect Handbook
NewConnect was established in 2007 as a stock market operated by the Warsaw Stock Exchange in the alternative trading system model. The market offers less strict formal requirements compared to GPW’s regulated market, both in terms of the conditions of introduction of shares to trading and subsequent disclosure requirements for companies, as well as lower costs of floating and listing, while providing listed companies with access to investor capital and brand promotion opportunities. NewConnect is designed specifically for small companies whose listing opens genuine opportunities of raising capital by issuing shares while the acceptance of disclosure standards applicable to public companies and resulting experience open the door to listing on GPW’s Main Market.
In July 2019 NewConnect received an SME Growth Market status. As a result, listed companies can use regulatory facilitation with regard to certain disclosure requirements under European Union regulations. EU’s efforts in support of the growth of SMEs suggest that further regulatory facilitation may be offered in the future to companies listed on SME Growth Markets in order to improve access of SMEs to capital.
This Handbook addresses the question how to become listed on NewConnect; how to prepare for and successfully complete an offering of shares; what conditions must be met to introduce shares to trading; and how to comply with obligations vis-à-vis investors. The transparent structure of this Handbook provides easy access to key legal, procedural and organisational advice in that regard.
The Handbook has been created by GPW in partnership with practitioners – experts representing NewConnect Authorised Advisors participating in the Board of Authorised Advisors, GPW’s advisory body supporting the development of the alternative trading system. Their expertise and well-established experience make this Handbook the best repository of practical advice about the introduction and listing of companies on NewConnect.
We hope that this Handbook will introduce shareholders and managers of companies to each step in the journey to listing and will help them understand the benefits of being a public company, making it easier to decide on becoming listed on NewConnect and, in the future, on the GPW Main Market.
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NewConnect – handbook (ready for print)