Criteria for Official Market listing

General terms

(art. 89. Exchange Rules)

  • The financial instrument being listed on the regulated market shall be those which may be traded in a fair, orderly and efficient manner;
  • The issuer shall be duly registered or otherwise validly established in accordance with the regulations of the Republic of Croatia or the country of the issuer's domicile,;
  • The applicant shall comply with the obligation to publish the prospectus and disclose other information, in accordance with the provisions of the CMA;
  • Financial instruments must be freely negotiable;
  • Efficient transaction settlement must be provided in respect of any financial instruments for which an application for listing on the regulated market has been submitted; that criterion will be deemed to be met if a financial instrument is issued in dematerialised form and entered in the central depository or central register and included in the clearing and/or settlement system;
  • The use of LEI is mandatory for issuers of financial instruments listed on regulated market
  • A pre-bankruptcy, bankruptcy or liquidation proceedings are not instituted against the issuer of a financial instrument.

Security types

Terms

Shares

  • General terms (art. 89. Exchange Rules)
  • At least 15 % of the shares shall be distributed to the public. In exceptional cases, shares may be listed even if they do not meet the free float requirement, considering a large number of same-class shares and the free float ratio, this does not compromise orderly market functioning (art. 91. Exchange Rules)

Debt securities

  • General terms

Structured products

  • General terms
  • Market Maker (art. 92. Exchange Rules)

Units in open-end investment funds

  • General terms for listing laid down in paragraph 1. to 3. and  paragraph 5. to 7.
  • Distribution of fund units to the public
  • Market Maker

Other financial instruments

  • General terms

Post-listing requirements on Regular market

Security types

Disclosure requirements

Shares

  • Financial reports (annual, semi-annual, quarterly)
  • Notification of major holdings (exceeds or falls below the thresholds of 5%, 10%, 15%, 20%, 25%, 30%, 50% and 75% of voting rights in an issuer of shares)
  • Acquisition/ disposal of own shares
  • Notification of changes in the rights attached to issued securities
  • Notification of total number of shares and/or voting rights
  • Corporate Governance Code (compliance questionnaire)
  • Invitation to the General Assembly and notice on the resolutions adopted by the General Assembly
  • Corporate Actions requirements (record date and etc.)
  • Home Member State notification
  • The choice of Official register of regulated information notification
  • The choice of Media for disclosure of regulated information notification
  • Managers’ Transactions
  • Public disclosure of inside information in accordance with the  Market abuse regulation (EU) No 596/2014

Debt securities

  • Financial reports (annual, semi-annual)
  • Notification of changes in the rights attached to issued securities
  • Meeting of the Holders of Debt Securities and information about the resolutions adopted at the meeting of debt securities holders
  • Corporate Actions requirements (record date and etc.)
  • Home Member State notification
  • The choice of Official register of regulated information notification
  • The choice of Media for disclosure of regulated information notification
  • Managers’ Transactions
  • Public disclosure of inside information in accordance with the  Market abuse regulation (EU) No 596/2014

Structured Products

  • Financial reports (annual)
  • Notification of changes in the rights attached to issued securities
  • Home Member State notification
  • The choice of Official register of regulated information notification
  • The choice of Media for disclosure of regulated information notification
  • Changes in characteristics of the structured products
  • Redemption price of the structured product
  • Changes in the issuer’s credit rating
  • Public disclosure of inside information in accordance with the  Market abuse regulation (EU) No 596/2014