Cboe AST issued 2nd consultation paper on the proposed launch of corporate listings.
Follows Cboe AST Mar. 2024 proposed launch of corporate listings, see #204320.
Consultation Paper Highlights
This consultation paper provides an update on the matters raised in consultation paper 1 (CP1) and provides Cboe AST listing rules for consideration by stakeholders.
The feedback to CP 1 was supportive of Cboe AST competing in listings, and Cboe AST has considered and incorporated these comments into the listing framework.
It sets out the function, objects, and the interpretation and application of the rules.
Sets out minimum thresholds for a product issuer to be eligible to be listed, and their securities quoted, on the Cboe AST market, and the continuous listing requirements.
Plus sets out the general ongoing obligations and disclosure requirements of a listee.
Sets out the rights and obligations that must be attached to the quoted and unquoted securities of a listee, matters re changes to capital structure, corporate governance practices, matters re transactions with associated parties and significant transactions.
In addition, it specifies Cboe AST's powers as well as obligations of a listee.
