Börsen-Zeitung „Relief in the financing of small and medium-sized enterprises“

In a guest article in Börsen-Zeitung, Dr. Norbert Kuhn, Deputy Head of Capital Markets and Head of Corporate Finance, and Ingo Wegerich, President of Interessenverband kapitalmarktorientierter KMU e.V. and Partner at Luther Rechtsanwaltsgesellschaft, shed light on the amended practice of the German Federal Financial Supervisory Authority (BaFin) regarding the issue of subscription rights.

This concerns the over-subscription in the case of capital increases of up to 8 million Euros. The oversubscription allows existing shareholders to buy shares that are not purchased by other existing shareholders as part of their subscription rights. The oversubscription is now possible without a prospectus or investment advice/investment brokerage. BaFin's decision to make the oversubscription prospectus-free is particularly helpful to small and medium-sized enterprises and existing shareholders.

The guest article appeared on 17th March 2023.