Today saw the successful launch of Scale, Deutsche Börse's new segment for small and medium-sized enterprises (SMEs). As of the start of trading 46 equities and corporate bonds had listed on Scale and further issuers are expected in the next few days, based on applications already received.
To mark the launch of the new segment, Christine Bortenlänger (Executive Member of the Board, Deutsches Aktieninstitut), Hauke Stars (Executive Board Member, Deutsche Börse) and Carsten Kengeter (CEO of Deutsche Börse) opened trading on the Frankfurt Stock Exchange this morning, in the presence of well-known representatives from business and politics.
“Scale will provide further help for those small- and medium-sized enterprises which need to obtain access to the capital markets on attractive terms via the financial centre of Frankfurt. It is our duty as an exchange operator to create an environment in which businesses can more easily achieve their growth targets,” said Kengeter. “Scale mirrors the efficiency of the German Mittelstand. Both have an international focus and both make a significant contribution to the success of Germany as a business location.”
Scale is aimed at companies with proven business models which have already been successful with investors. Admission requirements for the segment include meeting minimum standards in terms of key financial figures and cooperating with one of the 34 Deutsche Börse Capital Market Partners, who will confirm a company's suitability for the segment and monitor their post-IPO performance.
Deutsche Boerse will also commission and pay for mandatory research reports on entrants, which will be produced by Edison Investment Research and Morningstar.
Scale is the successor to the Entry Standard for equities and corporate bonds.
Deutsche Börse's long-term goal is to create a flourishing ecosystem for growth in Germany and Europe, supporting companies through the successive stages of their growth right up to listing, thereby bringing about more IPOs.