The Scale segment makes it easier for small and medium-sized companies to obtain debt financing via the stock exchange. The companies also fullfill a number of transparency obligations such as the provision of a securities prospectus, audited annual financial statements, company or bond ratings, key company figures, etc. The companies also have the option of using the Scale segment to finance their business through borrowed capital.
With its Scale segment, Deutsche Börse offers young, growing and medium-sized companies in particular the opportunity to raise debt capital via the stock exchange.
Corporate bonds in the Scale segment are fixed-interest securities of small to medium-sized companies that finance themselves in this way with borrowed capital. The issuers come from various sectors. The denomination of the bonds is nominal private investor-friendly with a maximum of 1,000 euros. Investors can participate with a comparatively low investment.
Subscribing Scale Bonds via the Stock Exchange
Many of the bonds in the Scale segment are offered for subscription on the stock exchange at the time of issue. Subscribed bonds can be issued via a house bank or online bank, no stock exchange fees are charged. After the issue, the bonds are traded on the Frankfurt Stock Exchange.
In order to be included in the Scale segment, companies must meet certain transparency requirements. This provides investors with simplified access to key performance indicators and enables them to better assess risks.
At the time of inclusion, the company must, among other things, provide this information:
- securities prospectus
- corporate calendar
- audited annual accounts
- credit rating of a rating agency and balance sheet ratios.
- subsequent obligations after the issue:
- current annual and semi-annual reports
- qnnual follow-up ratings
- an analysts' and investors' event at least once a year.
June 2019, Deutsche Börse AG