[Last updated: 1 January 2024, unless otherwise noted]

There are no additional requirements, or any changes in the normal requirements, that apply to very large multinational companies or smaller companies.

Mineral companies and scientific research-based companies (see definitions below) applying for a listing do not need to have published or filed audited financial information that covers at least three years and represents at least 75% of their business (subject to the condition applicable to scientific research based companies described below). However, both types of company must have published or filed historical financial information since the inception of the relevant business and must demonstrate that they will be carrying on an independent business as their main activity.

In addition, a mineral company that does not hold controlling interests in a majority (by value) of the properties, fields, mines or other assets in which it has invested must demonstrate that it has a reasonable spread of direct interests in mineral resources and has rights to participate actively in their extraction, whether by voting or through other rights which give it influence in decisions over the timing and method of extraction of those resources. A scientific research-based company that does not have audited financial information that covers at least three years and represents at least 75% of its business must:

• Demonstrate its ability to attract funds from sophisticated investors prior to the marketing at the time of listing.
• Intend to raise at least €12.50 million (approximately US$13.81 million) pursuant to a marketing at the time of listing.
• Have a capitalization before the marketing at the time of listing of at least €25 million (approximately US$27.63 million), based on the issue price and excluding the value of any shares issued in the six months before listing.
• Have as its primary reason for listing the raising of finance to bring identified products to a stage where they can generate significant revenues.
• Demonstrate that it has a three-year record of operations in laboratory research and development, including patents granted/applied for and successful testing of the effectiveness of its products.

Scientific research-based companies are defined as companies primarily involved in the laboratory research and development of chemical or biological products or processes or any other similar innovative science-based companies.

Mineral companies are defined as those companies whose principal activity is, or is planned to be, the extraction (mining, quarrying or similar activities and the reworking of mine tailings or waste dumps) of mineral resources (which may or may not include exploration for mineral resources). Mineral resources include metallic and non-metallic ores, mineral concentrates, industrial minerals, construction aggregates, mineral oils, natural gases, hydrocarbons and solid fuels including coal.

There are no situations in which a fast track or expedited listing can be procured.