Sparks: the SME Stock Exchange

Sparks: the SME Stock Exchange

Fire Up Your Growth Ambitions.

Sparks. The SME Venue to Fuel Your Growth

Looking to grow your SME? Do you need to raise capital? Or do you want to strengthen the profile of your company? The Swiss stock exchange is the right partner for you. Sparks – The new stock exchange venue exclusively for SMEs.

The new segment will improve your visibility as an SME and the execution of trades for your investors. Of course, you will also benefit from all other well-known advantages of being a listed company at SIX Swiss Exchange, such as the efficient access to capital.

How You Will Benefit

Profit from Proven Growth Advantages

By listing on Sparks your SME will benefit from efficient capital raising and from all the other well-known advantages of being a listed company at the Swiss stock exchange.

Stand Out From the Competition

Your investors and clients are overwhelmed with a constant flow of information. Sparks puts your SME on everyone’s map. We help you be seen and heard. Sparks is exclusively made for SMEs to maximize the visibility of your SME.

Optimize the Trading in Your Shares

Your shares may not be traded at all times. Lower trading liquidity is normal for smaller companies, but it may put off some investors from investing in your exciting company. Our condensed continuous trading window optimizes price finding and the execution of trades in shares of companies with smaller market capitalization.

And there is more: Benefit from a 50% fee reduction in your listing fees. As an SME, you will benefit from this reduction when you first list on Sparks and then every time you raise follow-on equity capital on the public market. Plus: Sparks issuers also have at their disposal a concise template that allows them to fulfil their corporate-governance reporting requirements faster and more efficiently. 

The public capital market is a supporting pillar of our economic resilience. The new stock market segment Sparks offers fast-growing companies a new and efficient financing channel and ensures that such companies receive sufficient capital to achieve their ambitions in Switzerland.

Daniela Stoffel, State Secretary for International Finance

Main Cornerstones of Sparks

Our requirements mean your SME gets to make the most of public markets by ensuring the necessary information flows between your SME and investors. All requirements are tailored to, and balanced between, your needs and those of your investors.

The trading model is also specifically tailored to companies with smaller market capitalization to give your investors the best possible execution. And our seamless transfer mechanics ensure that your SME is always where it benefits the most from public markets.

The following listing requirements must be fulfilled on the day of the listing:

  • A market capitalization of less than CHF 500 million
  • A track record > 2 years 
  • A shareholder base > 50 investors 
  • An equity capital > CHF 12.0 million
  • A capital increase > CHF 8.0 million as part of the IPO (unless equity capital > CHF 25.0 million)
  • Freely tradable shares of > 15% (of the outstanding shares)
  • Market capitalization of freely tradable shares > CHF 15m

 

  • Annual (audited) and semi-annual (unaudited) financial reporting
  • Corporate governance reporting
  • Disclosure of shareholdings, management transactions and events that could affect the share price (ad hoc publicity)
  • An average market capitalization of less than CHF 1 billion over the past 12 months*

* If the average market capitalization exceeds this threshold, a Sparks-listed company must transfer to the SIX main market.

 

  • Condensed trading window with continuous trading every day
  • Opening auction at 3.00 p.m.
  • Continuous trading until 5.20 p.m.
  • Closing auction and “Trading at Last (TAL)” until 5.40 p.m.
  • Sparks-listed companies can request a transfer to the SIX Swiss Exchange main market after a certain period.
  • Sparks-listed companies must transfer to the SIX Swiss Exchange main market if their average market capitalization exceeds CHF 1 bn over a period of 12 months.

You can find the listing rules and all other applicable regulations on the SER website. Our experts are here to help you if you have any question.

How you as an Investor can Benefit from Sparks

Your Benefits

  • Any Questions? We Are Happy to Help!

    Do you have any questions? Not sure if you are ready to go public? Curious what the process looks like? Would you like to figure out your next steps?

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