How to join?

A company can join NASDAQ OMX First North regardless of the country of origin or industry sector. A key factor for success is that there is investor interest for the company’s share. The Nordic region boasts the largest retail presence in the world per capita, with small private investors and professional investors taking an active role in the market. When you consider joining First North, marketplace staff can offer information about the different options. The representative that guides the company through the application process is a Certified Adviser. Before trading in the share can commence, an application must be submitted to the Exchange for approval. It is then the Certified Adviser that ensures that the company fulfills the requirements of NASDAQ OMX First North on a continuing basis.

Certified Advisers »

Admission requirements

The admission criteria for companies joining NASDAQ OMX First North are laid out in detail in the First North Rulebook. The overall admission requirements are the following:

• Conditions for a sufficient supply and demand:
  - Sufficient number of shareholders; and
  - at least 10% of the share capital in public hands; or
  - acquire the services of a Liquidity Provider
• Publication of a Company Description/Prospectus
• The company must at all times have an agreement with a Certified Adviser
• The company must accept and sign the general terms and conditions for admission to trading on First North
• The Company must possess the organization and staff required in order to comply with the requirements regarding disclosure of information to the market

First North Premier

First North’s new segment Premier is targeting companies that make a conscious decision to comply with higher disclosure and accounting standards than the regular First North rules. This imposes higher demands on transparency which brings benefits to both listed companies and the investors. Read more about First North FN Premier »

Rules & requirements for Certified Advisers

All companies that wish to join First North must appoint a Certified Adviser (CA) in association with the application process. The Certified Advisers role is to guide the company through the application process. The Certified Adviser also has the obligation to provide support and ensure that the company continuously meets the requirements associated with having shares admitted to trading on First North. Furthermore, the Certified Adviser is compelled to constantly monitor the company’s compliance with the rules of First North, and report any transgression to the Exchange.

Guide to become a CA
Applicationa to become Certified Adviser
Acceptance form for the use of personal data
Information regarding new or changed disignated contact persons
Billing form

 

Certified Advisers trading rules

The company approved as a Certified Adviser may not own more than 10 percent of the shares or voting rights in a company to which they provides advice. In conjunction with the publication of the reports of unaudited annual earnings figures and semi-annual reports, Certified Advisers must provide the Exchange with information about their holdings in those companies to which they provide advice. An employee who is involved in the function as Certified Adviser to a company shall not be allowed to trade in the shares of that company.