Prague bourse launches START for small caps

Prague bourse creates loosely regulated ‘START’ market for small caps in bid to attract SMEs with lower reporting, listing requirements

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The Prague Stock Exchange (BCPP) has established a loosely regulated market for small caps, called START, which aims to attract small- and medium-sized companies with lower reporting and listing requirements than needed for companies trading on the main market PX Index.

“Our members requested the introduction of the START market. This is our response to the current situation in the banking market,” said Petr Koblic, the exchange CEO, in a statement. “The conditions were modified to best suit the clients of our members, with whom we closely collaborated in the preparation of this project.”

The Czech brokerage Cyrrus and Raiffeisenbank, both members of the exchange, helped prepare the new market and were the first official guarantors of START. Companies interested in entering the new market should first contact one of the so-called issue guarantors.

The Prague bourse is owned by the Vienna Stock Exchange. The PSE said there were several potential issuers at the moment but stopped short of estimating when listings would start.