Nasdaq Stockholm AB (the "Exchange") has decided to make changes to Supplement
D of the Nasdaq Nordic Main Market Rulebook for Issuers of Shares (the
"Rulebook"). The changes will enter into force on 1 October 2021 and relate
only to the Exchange (not Nasdaq's other Nordic markets).
The changes relate only to the listing process at the Exchange, thus they have
no bearing on Issuers whose instruments are already admitted to trading. The
changes also do not apply to Issuers which have already initiated a listing
process at the Exchange prior to 1 October 2021. The changes will become
mandatory for all Issuers initiating a listing process at the Exchange as of 1
January 2022. Between 1 October 2021 and 31 December 2021 it is therefore
voluntary for Issuers initiating a listing process at the Exchange to follow
the new rules.
The main changes in the revised Rulebook, Supplement D, are as follows:
Part B
-- It is clarified that Admission Form A shall be signed and submitted to
the Exchange no later than three months before the date on which the
intended Request for Admission Assessment is to be considered by the
Listing Committee.
-- The Issuer shall appoint a Listing Auditor to review whether the Issuer
fulfils the Admission Requirements and whether it would be appropriate to
approve the Issuer's Shares for admission to trading at the Exchange. This
replaces the current setup whereby the Exchange appoints an Exchange
Auditor to perform this review.
-- It is clarified in guidance text in relation to advance rulings by the
Listing Committee that:
-- Nasdaq Surveillance should be contacted in the first place to discuss
the handling of such questions.
-- The Listing Committee shall receive requests for advance ruling no later
than five business days before the relevant Listing Committee meeting.
General remarks regarding the implementation of the changes
It follows from the Rulebook (1.2.1.) that issuers are to be given at least 30
days' notice of changes before these enter into force. Accordingly, this
Regulatory Notice is published one month before the revised Rulebook entering
into force, on 11 October 2021.
Details are available on the Exchange's website:
https://www.nasdaq.com/solutions/rules-regulations-stockholm
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