A listing in Switzerland gives a company access to European investors, a stable currency and one of the most respected financial centres in the world. The articles collected here explain listing on the SIX Swiss Exchange and BX Swiss, the admission requirements and listing segments, the prospectus under the Financial Services Act and its review by a prospectus office, the disclosure and ad hoc publicity duties that follow, and the preparation of a company from Asia, the Middle East or Africa for a Swiss listing, from its group structure and accounts to its board and governance.
A listing on SIX Swiss Exchange or BX Swiss gives a company access to European investors, a stable currency and a respected market. For companies from Asia, the Middle East and Africa it can also strengthen their standing with banks, customers and partners worldwide and give its shares a transparent market value.
SIX Swiss Exchange in Zurich is the main Swiss exchange and lists some of the largest companies in Europe, while BX Swiss in Bern offers a smaller market that can suit growing companies. SIX Swiss Exchange has admitted many issuers from outside Switzerland, and since 2022 several Chinese companies have listed global depositary receipts there.
A listing is a long project that begins well before the application is filed. The company needs audited financial statements under a recognised accounting standard, a board that meets governance expectations, a clear group structure and reliable internal reporting. Investors and the exchange will look closely at related-party transactions, the position of controlling shareholders and the risks of the business.
After the listing, the company must publish ad hoc announcements on price-sensitive facts, report regularly and observe the rules on disclosure of shareholdings and market abuse. Founders and families who remain major shareholders should understand these obligations in advance, because they affect how the company communicates, how shares can be sold and how decisions are prepared at board level.
The articles explain the listing requirements and segments, the prospectus under the Financial Services Act and its review, the duties that follow a listing, and how a company prepares its group structure, accounts and governance for a Swiss listing.
SIX Swiss Exchange or BX Swiss: choosing the exchange and segment
Switzerland has two stock exchanges with different profiles. How issuers compare SIX and BX Swiss and why the choice of segment matters as much as the exchange. Read more IPO and Listing · Listing RequirementsListing requirements on SIX: track record, equity, free float and accounting
What SIX Swiss Exchange expects from an issuer: operating history, minimum equity, adequate free float, recognised accounting standards and a sound audit. Read more IPO and Listing · ProspectusThe prospectus under the Swiss Financial Services Act
When a prospectus is required in Switzerland, what it must contain, how the review body approves it, which exemptions apply and who is liable for errors. Read more IPO and Listing · GDRs and Stock ConnectGlobal depositary receipts of Chinese companies on SIX
Since 2022, companies listed in Shanghai and Shenzhen have been able to raise capital in Switzerland through GDRs. How the route works and what issuers should consider. Read more IPO and Listing · Secondary ListingsDual listings and secondary listings in Switzerland for companies listed in Asia
Companies already listed in Hong Kong, Singapore or elsewhere in Asia can add a Swiss listing. How primary, dual and secondary listings differ and what remains to be done. Read more IPO and Listing · IPO ReadinessPreparing a company for an IPO in Switzerland
Corporate housekeeping, board composition, internal controls and an audit by a state-supervised audit firm: the groundwork that makes a Swiss IPO possible. Read more IPO and Listing · Ongoing ObligationsAd hoc publicity and disclosure duties after a Swiss listing
Listing is the beginning of continuous disclosure. What ad hoc publicity, periodic financial reporting and management transaction reporting require of a Swiss-listed issuer. Read more IPO and Listing · Shareholding DisclosureDisclosure of shareholdings in Swiss listed companies
Holders of Swiss-listed shares must report when they reach thresholds starting at 3 per cent. Who is caught, how positions are counted and what happens after a breach. Read more IPO and Listing · Takeover LawTakeover law in Switzerland: public offers and the mandatory offer
Crossing one third of the voting rights in a Swiss listed company usually triggers a mandatory offer. How opting-out and opting-up work and the role of the Takeover Board. Read more IPO and Listing · Market AbuseInsider trading and market manipulation under Swiss law
Swiss market abuse rules apply to everyone who trades in Swiss-listed securities. Criminal and supervisory consequences, and how issuers manage insider information in practice. Read more IPO and Listing · Corporate GovernanceCorporate governance of Swiss listed companies
Binding shareholder votes on pay, annual elections and independent directors: the governance framework that applies to companies listed in Switzerland. Read more IPO and Listing · Delisting and Squeeze-outDelisting and going private in Switzerland
How a Swiss listed company leaves the exchange: delisting procedure, the 98 per cent squeeze-out after a public offer and the 90 per cent merger squeeze-out. Read more IPO and Listing · OverviewIPO and listing in Switzerland
A Swiss listing gives a company access to one of the deepest pools of private and institutional capital in Europe,… Read more