Guidance on terms related to listings

The Financial Supervisory Authority (FIN-FSA) has again drawn attention to the terms used in prospectuses and marketing materials with regard to listing arrangements. The FIN-FSA considers that the terms used should be consistent with whoever ends up with the funds collected. The term “Listautumisanti” may be misleading if part of the arrangement is a sale of shares by the company’s shareholders. The FIN-FSA considers it consistent to use, for example, the term “Listautumismyynti ja -anti” if the sale of shares by shareholders is larger than the company’s share issue. If the company’s share issue is larger, the descriptive term is, for example, “Listautumisanti ja -myynti”.

For further information, please contact:

• Marianne Demecs, Chief Supervisor, marianne.demecs(at)finanssivalvonta.fi or tel. +358 9 183 5366