Nasdaq Stockholm Streamlines Dual Listing Process for US-Listed Companies to access European markets
Nasdaq Stockholm has announced significant changes to its Main Market rulebook, effective January 1, 2025, streamlining the dual listing process for companies listed on U.S. exchanges. The new rules eliminate the requirement for a separate listing auditor review when applying for a dual listing on Nasdaq Stockholm, provided the company has listed in the US within the past 12 months. This initiative aims to reduce redundancy and resource-intensive tasks in the listing process.
The update is part of Nasdaq Europe's broader strategy to enhance capital markets integration and strengthen the EU listing environment. According to Nasdaq, their European markets have delivered the highest global annual returns, averaging over 8% during 1966-2023, with strong positions in tech sectors including medtech, biotech, and renewable energy.
Nasdaq Stockholm ha annunciato importanti cambiamenti al suo regolamento del Mercato Principale, in vigore dal 1° gennaio 2025, semplificando il processo di doppia quotazione per le aziende quotate sulle borse statunitensi. Le nuove norme eliminano il requisito di una revisione separata da parte di un revisore per la quotazione, quando si richiede una doppia quotazione su Nasdaq Stockholm, a condizione che l'azienda sia stata quotata negli Stati Uniti negli ultimi 12 mesi. Questa iniziativa mira a ridurre la ridondanza e le attività che richiedono molte risorse nel processo di quotazione.
L'aggiornamento fa parte della strategia più ampia di Nasdaq Europa per migliorare l'integrazione dei mercati dei capitali e rafforzare l'ambiente di quotazione nell'UE. Secondo Nasdaq, i loro mercati europei hanno registrato i più alti rendimenti annuali globali, con una media superiore all'8% durante il periodo 1966-2023, con posizioni solide nei settori tecnologici, tra cui medtech, biotech e energie rinnovabili.
Nasdaq Stockholm ha anunciado cambios significativos en su reglamento del Mercado Principal, que entrarán en vigor el 1 de enero de 2025, simplificando el proceso de doble cotización para las empresas que cotizan en las bolsas de valores de EE. UU. Las nuevas reglas eliminan el requisito de una revisión separada por parte de un auditor de cotización al solicitar una doble cotización en Nasdaq Stockholm, siempre que la empresa haya estado cotizando en EE. UU. en los últimos 12 meses. Esta iniciativa tiene como objetivo reducir la redundancia y las tareas que requieren muchos recursos en el proceso de cotización.
La actualización forma parte de la estrategia más amplia de Nasdaq Europa para mejorar la integración de los mercados de capital y fortalecer el entorno de cotización de la UE. Según Nasdaq, sus mercados europeos han ofrecido los mayores rendimientos anuales globales, promediando más del 8% durante el período de 1966 a 2023, con posiciones fuertes en sectores tecnológicos, incluidos medtech, biotech y energías renovables.
나스닥 스톡홀름이 2025년 1월 1일부터 시행되는 주요 시장 규정의 중요한 변경 사항을 발표했습니다. 이는 미국 거래소에 상장된 기업의 이중 상장 프로세스를 간소화하는 데 중점을 두고 있습니다. 새로운 규칙은 기업이 최근 12개월 이내에 미국에서 상장된 경우 나스닥 스톡홀름에 이중 상장을 신청할 때 별도의 상장 감사자가 검토할 필요를 없앱니다. 이 이니셔티브는 상장 과정의 중복성과 자원 집약적인 작업을 줄이는 것을 목표로 하고 있습니다.
이번 업데이트는 자본 시장 통합을 개선하고 EU의 상장 환경을 강화하기 위한 나스닥 유럽의 광범위한 전략의 일환입니다. 나스닥에 따르면, 그들의 유럽 시장은 1966년에서 2023년 사이 평균 8% 이상의 높은 글로벌 연간 수익률을 기록했으며, 의료 기술, 생명 공학 및 재생 가능 에너지를 포함한 기술 분야에서 강력한 입지를 다지고 있습니다.
Nasdaq Stockholm a annoncé d'importants changements dans son règlement du marché principal, qui entreront en vigueur le 1er janvier 2025, simplifiant ainsi le processus de double cotation pour les entreprises cotées sur les bourses américaines. Les nouvelles règles suppriment l'exigence d'une révision distincte par un auditeur lors de la demande d'une double cotation sur Nasdaq Stockholm, à condition que l'entreprise ait été cotée aux États-Unis au cours des 12 derniers mois. Cette initiative vise à réduire la redondance et les tâches nécessitant beaucoup de ressources dans le processus de cotation.
Cette mise à jour fait partie de la stratégie plus large de Nasdaq Europe pour améliorer l'intégration des marchés de capitaux et renforcer l'environnement de cotation dans l'UE. Selon Nasdaq, leurs marchés européens ont enregistré les plus hauts rendements annuels mondiaux, avec une moyenne de plus de 8 % entre 1966 et 2023, avec de fortes positions dans les secteurs technologiques, y compris la medtech, la biotech et les énergies renouvelables.
Nasdaq Stockholm hat bedeutende Änderungen in seinem Regelwerk für den Hauptmarkt angekündigt, die am 1. Januar 2025 in Kraft treten werden. Diese Änderungen sollen den Prozess der Doppelnotierung für Unternehmen, die an US-Börsen notiert sind, vereinfachen. Die neuen Regelungen heben die Anforderung für eine separate Prüfung durch einen Listing-Auditor auf, wenn ein Unternehmen innerhalb der letzten 12 Monate in den USA notiert war und eine Doppelnotierung bei Nasdaq Stockholm beantragt. Diese Initiative zielt darauf ab, Redundanzen und ressourcenintensive Aufgaben im Listing-Prozess zu reduzieren.
Das Update ist Teil einer umfassenderen Strategie von Nasdaq Europe zur Verbesserung der Integration der Kapitalmärkte und zur Stärkung des EU-Notierungsumfelds. Laut Nasdaq haben ihre europäischen Märkte die höchsten globalen jährlichen Renditen erzielt, mit einem Durchschnitt von über 8% im Zeitraum von 1966 bis 2023, und haben starke Positionen in technologischen Sektoren, einschließlich Medizintechnik, Biotechnologie und erneuerbarer Energie.
- Streamlined listing process reduces costs and time for companies seeking dual listing
- Initiative enhances market accessibility and competitiveness of European markets
- Strong historical performance with over 8% average annual returns (1966-2023)
- None.
Insights
This regulatory update marks a significant strategic shift in global market access. The streamlined dual listing process between US and European markets removes a key friction point that has historically deterred cross-border listings. By eliminating redundant auditor reviews, companies can potentially save
The timing aligns with Europe's push for capital markets integration and could significantly boost market liquidity. Historical data showing
The regulatory harmonization between US and European listing requirements represents a sophisticated evolution in cross-border securities law. While maintaining robust oversight through Nasdaq Stockholm's review process, the elimination of duplicate auditor requirements acknowledges the equivalency of US listing standards. This creates a more efficient regulatory framework without compromising investor protection.
The January 2025 implementation provides adequate preparation time for market participants and demonstrates careful consideration of compliance requirements. This change could serve as a template for broader regulatory alignment across other European exchanges.
STOCKHOLM, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Nasdaq (Nasdaq: NDAQ) announced today an update to the Nasdaq Stockholm Main Market rulebook, effective from 1 January 2025. This update will streamline the listing review process for companies seeking to list on Nasdaq Stockholm simultaneously with or within 12 months of a listing on the U.S. exchanges, including the Nasdaq Stock Exchange and the New York Stock Exchange.
As the first of several listing simplification initiatives, Nasdaq Europe is focused on driving capital markets integration and leading the development of EU capital markets and listing environment.
Currently, the dual listing process is largely conducted independently in the US and Sweden, resulting in the duplication of time and resource-intensive tasks. Under the new model, companies approved to list in the US will still be reviewed through the Nasdaq Stockholm listing process but will no longer require a separate review by a listing auditor when applying for a dual listing on Nasdaq Stockholm. This task, associated with costs and efforts, is redundant for a company that has already been validated according to standards that are equivalent or similar.
Adam Kostyál, President of Nasdaq Stockholm, stated, “Simplifying the process for European companies to dual list in the US and Europe represents a significant milestone in our ability to strengthen the competitiveness of Europe’s markets and economies, and further enhance Europe’s long-term economic growth – two key objectives underpinning the Capital Market Union’s policy platform. The new rule removes friction for companies to attract both European and U.S. investors, benefiting not just our European companies but also providing retail investors with better access to a wider range of investment opportunities.”
Roland Chai, President of Nasdaq European Markets, added: “Reducing obstacles in the listing processes for issuers to access European markets is key to increasing European competitiveness and we are determined to ensure issuers have maximum access to European investors. Nasdaq has been continuously implementing a program of simplification across Nasdaq’s European exchanges, and further market access efficiencies will be rolled out across Nasdaq’s six EU markets. With top rankings in leading tech sectors like medtech, biotech, and renewable energy, as well as delivering annual returns of over eight percent on average over the period 1966-2023, the highest globally, Nasdaq’s Europe’s leadership demonstrates the transformative power of well-executed capital markets integration in the EU.”
For more information regarding the upcoming rulebook changes: https://www.nasdaq.com/market-regulation/nordic/main-market-rules
Nasdaq Media Contact
Erik Gruvfors
+46 73 449 78 12
erik.gruvfors@nasdaq.com
About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.
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