Swiss stock exchange SIX is set to launch a new equity segment dedicated to Small and Medium Enterprises (SMEs) dubbed as Sparks after receiving the necessary approvals from the relevant authorities.
SIX said in a statement that preparations for the launch of the platform are now under way.
With the launch of Spark, SMEs can be listed and traded in the new segment starting 1 October 2021. All relevant rules and regulations will be made public in the coming two weeks. SMEs will now be able to put their IPO projects in motion.
Listed SMEs will benefit from having greater flexibility in optimising their ownership structure, broadening their financing options and gaining access to a broad investor base thus raising equity-capital efficiently.
SIX said that investors stand to benefit from the new Sparks trading model which supports effective price formation and best-execution in equity securities.
It added that SMEs listed on Sparks benefit from the advantages of being a listed company on the Swiss stock exchange.
In addition, the Swiss stock exchange is putting the finishing touches to a new exclusive IPO training programme to be offered to Sparks IPO candidates in close collaboration with key capital market service providers.
The programme aims to ready these candidates and support them on their journey to going public. The B2B marketplace for entrepreneurs is now in the making as well and will help companies keep their focus on developing great products by bringing clarity to, and allowing discoverability of, key capital market services and providers.
SIX will also continuously develop established services such as Stage, which unlocks independent research coverage for SMEs, conferences connecting SMEs with investors, education workshops, and e-learning solutions.
Christian Reuss, Head SIX Swiss Exchange said,
“Having an SME stock exchange for Switzerland’s powerhouse SMEs – the backbone of our economy and society – enables us to further support them and their owners in their growth ambitions.
It also strengthens Switzerland’s exceptionally well-functioning ecosystem for public capital raising.”
Valeria Ceccarelli, Head Primary Markets, SIX Swiss Exchange said,
“Sparks is one more key element in our ongoing efforts to help SMEs benefit from public capital markets.
We recently announced our partnership with Venturelab to develop new capital market services for scale-ups by bringing the expertise of the Swiss stock exchange together with Venturelab’s deep understanding of the needs and ambitions of entrepreneurs.“
