A listing means that an offering document (or prospectus) for an issue of debt or equity securities has been reviewed and approved by a stock exchange, and the securities are admitted to trading on that exchange. There are various rules for listings depending on the type of listing venue and where the security is listed. Benefits of listing securities outweigh the negatives, although listing is not possible for certain issuers, including a larger investor base, Quoted Eurobond Exemption and ECB eligibility to name a few.
Key learning objectives:
Understand what a listing is
Identify who sets the rules for listing
Recognise why an issuer would list a security