Publication of the prospectus
A prospectus may be published after it has been approved by FIN-FSA. It must be published with its text and format identical to the approved original version.
The prospectus must be published no later than two business days prior to the start of the securities offering. In the case of securities admission to trading only the prospectus must be published two business days prior to the start of public trading.
With FIN-FSA's consent, publication is also possible after these deadlines.
How to publish the prospectus?
The prospectus is considered published when it has been made available to the public, for instance, in printed form at the offices of the company and the agent, and at places of subscription. In Finland, the prospectus must always be published in electronic form, as well.
The prospectus must be available, free of charge, to the public at least at the following places:
- stock exchange (in the case of a listed company)
- in electronic form on the websites of the issuer and the agent, and at places of subscription.
The prospectus must also be always available as a paper copy. Likewise, this applies to situations where the Internet is the only channel of subscription. The prospectus must be available to the public throughout the period of the securities offering.
In the case of a prospectus comprising several documents, the documents and information making up the prospectus may be distributed separately, provided they indicate where the other constituent documents of the full prospectus may be obtained. Documents incorporated by reference must be published and made available to the public. The prospectus must include a list of documents to which reference has been made, and such documents must be delivered to investors upon request.
8 July 2009