WHY IS THE CODE INTRODUCED AS A LISTING REQUIREMENT?
At Nasdaq we continually endeavor to improve our listing offerings and to ensure that our various marketplaces maintain a high level of quality. As a part of this work, we have decided to introduce the application of a local corporate governance code as a formal listing requirement for companies on Nasdaq First North Premier. Nasdaq First North Premier is a segment with stricter requirements, intended for companies with a high level of ambition and often focused on a future listing on the Main Market.
The purpose of turning the recommendation of applying a local corporate governance code into a listing requirement is to strengthen Nasdaq First North Premier’s stamp of quality, and Code application is also assumed to help facilitate any future listing of the company on the Main Market.
EXPECTED VALUE BY APPLYING THE CODE
- A possibility for the Board of Directors to acquire exchange experience prior to listing on the Nasdaq Stockholm Main Market.*
- A foundation for good internal controls and management which spreads from the Board of Directors throughout the company.
- The company achieves a higher level of maturity.
- The company's transparency to the market increases.
- Application of the Code prepares the company for taking the step to the regulated Nasdaq Stockholm Main Market, where the Code is a listing requirement.
- A more predictable listing process when the company takes the step to the Nasdaq Stockholm Main Market if the company is already complying with one of the listing requirements.
- The stamp of quality of Nasdaq First North Premier is further strengthened.
- Nasdaq will offer companies on Nasdaq First North Premier training in corporate governance.
*Provided that the company has applied the Code for 12 months the directors will gain exchange experience. If the company has deviated from any of the points in the Code the company can apply for an advance ruling as to whether the Code application is sufficient in order for exchange experience to be gained.
"I think it is apparent that all companies on First North Premier should apply the Code, why shouldn't they? The Code is a quality stamp.”
Nils Malmros, CEO, Devport
TIMELINE FOR IMPLEMENTATION
The new listing requirement is explained in more detail in the Frequently Asked Questions document.
Download the FAQ here >>
Download the FAQ in Swedish here >>
We have aggregated select information regarding the new Corporate Governance Code listing requirement on Nasdaq First North Premier in a two-pager brochure.
Download the information sheet here >>
Download the information sheet in Swedish here >>
WANT MORE DETAILS?
Please contact firstname.lastname@example.org if you have any questions. If you want to read more about the Swedish Corporate Governance Code please visit http://www.corporategovernanceboard.se.