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SCWP Schindhelm Advises Startup300 on Listing in New Market Segment of Vienna Stock Exchange

SCWP Schindhelm Advises Startup300 on Listing in New Market Segment of Vienna Stock Exchange

Austria
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SCWP Schindhelm has advised Startup300 AG on its listing on the Vienna Stock Exchange, making it, according to the firm, "one of the first companies from the Austrian start-up scene" to be so listed.

"In the three years since its foundation in December 2015," SCWP Schindhelm reported, "Startup300 has developed from a business angel network to an operator of an integrated start-up ecosystem. In its first fiscal year 2016, the focus was still on investing in early-stage technology startups, but Startup300 now operates an innovation ecosystem in which founders, startups, investors and innovative companies have access to talent, network, offices, consulting, capital and events. Startup300 makes direct start-up investments via Pioneers Ventures (currently 27 investments) and the VC fund Capital300, in which Startup300 holds an interest."

According to SCWP Schindhelm, "In October 2018, the legislator laid the foundation for the access of Austrian startups and SMEs to the capital market by passing amendments to the Austrian Stock Corporation Act which have been in force since January 1, 2019. The issuance of bearer shares required for the admission to the Dritter Markt market segment of the Vienna Stock Exchange was considerably facilitated. Previously, this was only possible for companies intending to list on an EU regulated market (official trading). The Vienna Stock Exchange responded to the legislator’s actions by creating two new segments, SCWP Schindhelm continues, "the Direct Market and Direct Market Plus, which will be part of the market segment Dritter Markt from January 21, 2019 onwards. Listing in these segments is subject to fewer requirements and follow-up obligations than listing in the Official Market. The fees are also considerably lower (EUR 5,000 one-time for inclusion and EUR 1,000 annually)."

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