The only comprehensive guide for listing on exchanges around the world
Global, 23 February 2012 – Baker & McKenzie has released the third edition of its Cross-Border Listings Handbook, an exclusive guide to listing securities in exchanges around the world. Featuring contributions from more than 55 lawyers of the Firm’s Global Securities practice, the handbook summarizes and compares the listing requirements of 25 global stock exchanges.
The new edition includes updates on each of the 25 exchanges, including four newly added chapters on Luxembourg, Spain, Sweden and Turkey stock exchanges. To assist companies considering more than one stock exchange on which to list, the handbook also features a new section comparing key requirements among key exchanges including:
• NYSE, London (Main Market) & Hong Kong
• NYSE & NASDAQ
• London (Main Market) & London (AIM)
• Hong Kong & Singapore
• Australia, Toronto & Hong Kong
“As we have seen an increased interest by companies to raise capital outside of their home jurisdiction, the decision of choosing the right exchange has become more challenging for our clients,” said Amar Budarapu, Chair of the Firm’s Global Securities practice. “We are the only law firm that has a Securities practice with the geographic coverage and resources to publish such a comprehensive guide to listing on developed and emerging stock exchanges. We have published the Cross-Border Listings Handbook to help companies and investment banks understand the requirements of listing on various exchanges, in order to get the best outcome in terms of cost, time involved in listing and post-listing compliance.”
Since its initial publication in 2010, the handbook has been a go-to resource for investment bankers, CFOs, in-house counsel and other advisers. This third edition was released in conjunction with a series of seminars, roundtables and other events that the Firm’s Securities partners are conducting in major money centers and emerging markets on the topic of cross-border listings.
“The world is shrinking as issuers are increasingly listing on exchanges outside of their traditional areas of coverage,” added Edward Bibko, Chair of Baker & McKenzie’s Securities practice in Europe and the Middle East. “Exchanges around the world are courting investors from other countries, and the globalization of financial markets is one of many factors affecting increased issuance of securities and shifts in capital flows. The handbook is a helpful resource to our investment bank and issuer clients as they navigate the complexities involved in listing securities abroad. If chosen carefully, listing on the right exchange can provide a number of advantages for multinational companies, including additional capital, more favorable price-to-earnings multiples, increased visibility and improved investor perception.”
The exchanges covered in the Cross-Border Listings Handbook are:
• Australian Securities Exchange
• Bursa Malaysia
• Frankfurt Stock Exchange
• Hong Kong Stock Exchange
• Istanbul Stock Exchange
• London Stock Exchange (AIM)
• London Stock Exchange (Main Market)
• Luxembourg Stock Exchange
• NASDAQ
• NASDAQ OMX Stockholm
• National Stock Exchange of India Limited
& The Bombay Stock Exchange
• New York Stock Exchange
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• NYSE Euronext in Amsterdam
• NYSE Euronext in Brussels
• NYSE Euronext in Paris
• São Paulo—BM&FBovespa
• Singapore Stock Exchange
• SIX Swiss Exchange
• Spanish Stock Exchange
• Stock Exchange of Thailand
• Taiwan Stock Exchange
• Tokyo Stock Exchange
• Toronto Stock Exchange
• TSX Venture Exchange
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To request a copy of the third edition of Cross-Border Listings Handbook and for further information about related activities, visit
www.bakermckenzie.com/crossborderlisting.
Baker & McKenzie’s IPOs and cross-border listings include recently advising: Bank Zachodni WBK S.A. and Rubicon Partners Dom Maklersi S.A., on the initial public offering of shares of Avia Solution Group AB, a Lithuanian company listing on the Warsaw Stock Exchange; CITIC Securities Company Limited on its HK$13.2 billion global offering listed on the Stock Exchange of Hong Kong Limited, considered the third biggest Hong Kong IPO of 2011; Ukraine-based Coal Energy S.A. on its initial public offering and listing on the Warsaw Stock Exchange; Malaysia-based Parkson Retail Asia Limited on its SG$1,590 million initial public offering and listing on the Main Board of the Singapore Exchange Securities Trading Limited; Bank Gospodarki Zywnosciowej (BGZ), the Poland-based bank, on its €370 million initial public offering and listing on the Warsaw Stock Exchange; Cayman Islands pharmaceutical company, Coland Pharmaceutical Co., Ltd on its IPO of shares listed on the Taiwan Stock Exchange; and a Luxembourg producer of grains and oilseeds on its IPO of shares listed on the Warsaw Stock Exchange.
Baker & McKenzie’s Global Securities team comprises more than 300 securities lawyers in 42 countries, including all of the world’s leading financial centers. The firm represents issuers and investment banks in a wide variety of IPOs, cross-border listings and other capital markets transactions, including debt, equity and equity-linked issues, and in complex, multi-jurisdictional acquisitions and divestitures involving public companies. Over the past five years, the Global Securities team has been involved either as issuer’s or underwriter’s counsel in more than 530 equity and debt offerings, valued in total at approximately US$350 billion. The practice is consistently ranked among the top corporate law firms globally and in the world’s largest capital markets.