|
Own issue
(Private Placement) |
Third party issues
(Introcution to the stock exchange by an issuing bank)
|
Preperation |
- Annual accounts; interim balance
- Corporate planning
- Calculation of profits |
- Expert’s report of fixed and current assets
- Annual accounts, certified by an auditor
- Extensive due dilliegence to determine the issue price |
Issuing and salesprospectus |
Preparation of the prospectus |
Preparation of the prospectus |
Costs for processing issues |
As agreed |
€ 250.000 to € 750.000 |
Shares |
Depending on financing instrument |
Printing of the shares to be issued |
Bank Consortium |
None |
Meetings and negotiations on the compilation of the bank consortium; with syndicate agreement |
Selling commissions |
Appr. 7-10 % of the placement volume in consideration of the agio paid by the investor |
Appr. 10-15% of the placement volume (no additional agio of the shareholder) |
Print material |
Costs for marketing and printing the issuing material (prospectus, advertising material etc.) |
Costs for marketing and printing the issuing material (prospectus, advertising material etc.) |
Stock exchange listing |
None; no costs |
Costs of the listing |
Estimated preparation time |
Appr. 6-12 weeks |
Appr. 6-8 months |