9/7/2010 AAA 18.04 CZK 0.89% CETV 426.90 CZK -1.86% ČEZ 828.00 CZK -0.78% ECM 135.01 CZK -0.54% ERSTE GROUP BANK 723.90 CZK -1.91% KITD 180.01 CZK -0.83% KOMERČNÍ BANKA 4,026.00 CZK -1.80% NWR 217.70 CZK -2.68% ORCO 195.00 CZK 8.00% PEGAS NONWOVENS 433.00 CZK -1.14% PHILIP MORRIS ČR 8,808.00 CZK -1.59% TELEFÓNICA O2 C.R. 390.40 CZK -1.16% UNIPETROL 225.10 CZK -0.40% VIG 930.00 CZK -0.49%

Main Market

 In accordance with Act 256/2004 Coll. on trading on the capital market (the “Capital Market Act”), the main market is an official regulated market. Securities accepted on this market must comply with the conditions stipulated in Section 65 of the Capital Market Act and the Exchange Rules, Part III – Conditions for the Acceptance of Securities for Trading on the Main Market of the Exchange (hereinafter the “Conditions”) (list.pdf).

Acceptance Conditions

An application for the acceptance of an issue of securities is filed by the issuer of the security or an Exchange member authorised by such an issuer. The application must be delivered in writing and in an electronic format if possible, with respect to the nature of the documents. The application must apply to all of the securities and the issue must be transferrable without restrictions.

The accepted issue must comply with the following basic criteria:

Market capitalization of the issue of shares EUR 1,000,000.00
Volume of the issue of bonds EUR 200,000.00
Amount of issue distributed among the public (in shares) at least 25%
Duration of entrepreneurial activity at least 3 years


The following documents must be submitted by the issuer to ensure the successful acceptance of an issue:

  • Application for acceptance;
  • Prospectus of the securities concerned, stating the date, place and manner of publication;
  • Certification of ISIN allocation;
  • Annual financial statements, including notes, for the last 3 years;
  • Confirmation from a central depository regarding the registration of the issue (as regards dematerialised securities), or 4 samples printouts of certificated securities;
  • Extract from the Commercial Register;
  • Memorandum of Association or Articles of Association of the issuer.

The application for the acceptance and the fulfilment of the disclosure duties may be submitted in English, if so permitted by law and the specific conditions.

Acceptance Procedure

The Exchange Listing Committee must decide about the acceptance of an issue within 30 business days of the delivery of the respective application. The Exchange Committee for an Accelerated Listing Proceeding must decide about the acceptance of a tranche within 10 business days of the delivery of the respective application.

It further applies to the acceptance of the issue of bonds that if an accepted issue is issued under a bond programme, such a programme must be accepted for trading first. Individual issues, and also the tranches of such issues, are accepted on the basis of the decisions of The Exchange Committee for an Accelerated Listing Proceeding, within a period of 10 business days.

Conditional Trading

It is possible to launch the conditional trading of issues of newly subscribed shares which have not yet been accepted for trading under the following conditions:

  • The respective security prospectus has been approved and published and
  • The issue price and the total volume of the issue are known.

The General Director of the Exchange decides on the application. Conditional trading may last for up to 10 days and will end upon the commencement of official trading on the main market.

Issuer’s Duties

The definition of basic information which companies are obliged to disclose is provided in Art. 7 of the Conditions.

The most important information submitted to the Exchange:

  • Quarterly financial results, in case of the issuer of shares interim report as well;
  • Audited financial statement compiled according to IFRS;
  • Annual Report, submitted by the issuer not later than 4 months following the end of the fiscal year;
  • Semi-annual Report, submitted by the issuer not later than 2 months following the end of the fiscal year;
  • Calendar for the fulfilment of the disclosure duties;
  • and all information that could directly or indirectly cause a change to the share price or rate of the securities.

The information which the Stock Exchange obtains from the issuers as part of compliance with the disclosure duty will be published (see About Exchange/PSE Trading Data).

Fees

Companies with issues traded on the main market are obliged to pay fees to the Stock Exchange in connection with the acceptance thereof. For detailed information, see Regulation Governing Fees and the Tariff of Exchange Fees (fees.pdf, tariff.pdf).

Fee (one time) for the acceptance of securities for trading CZK 50,000.00
Fee (annual) for securities trading on the main market of the Exchange (of issue value) 0.05%, max. CZK 300,000.00
Lump-sum fee for the acceptance of a bond programme CZK 100,000.00

Newly accepted issues of shares are exempt from all fees as of the date on which the issue was admitted to trading.

Investment instruments listed on the main market.