At least 10% of the total amount of the share needs to be in what’s called the general public (free float). The free float is the number of shares that will be traded frequently creating liquidity.

There must be at least 100 shareholders in the company and these people need to own shares that are worth at least SEK 2000 (€200) each. The board of directors shall consist of at least four members. Two board members must be independent of the company, its management, and its major shareholders. Independent members may not be active in the company or own more than 10%.

Is either K3 or IFRS (International Financial Reporting Standards). IFRS are global accounting standards issued by the IASB (International Accounting Standards Board) and are always accepted.

Minimum accepted accounting standards for each country are:
Sweden: K3
Norway: Forenklet IFRS
Denmark: C or D
Finland: FAS
Germany: HGB

The prospectus or the memorandum is where a company describe their business. It’s also the document that potential investors will read before investing in a company. Describing why someone should invest in your company is called “The Equity Story” and is one of the most important part to describe in a prospectus or memorandum. There are also some things that must be in there, that’s also central. You find the list below.

Once you are listed the rules that determines what information needs to be published is set in Spotlight rules which are called disclosure rules. If you are not familiar with these don’t worry there are an education build into the process to learn. However, we do expect companies to show that they have the capacity of coping with these rules. Many times, companies have people that has done this before in the board or as an advisor (it’s not a requirement).