Initial choice
Clarify the listing rationale, funding need, ownership objectives and why this marketplace is being considered.
Regulated market
Listing on Nasdaq Stockholm
A Main Market listing places higher demands on track record, reporting, governance and documentation. The process should be managed as a company-wide project in which legal, audit, financing, communications and Nasdaq review work from one source of truth.
Discuss your situation→The assignment
A process that holds together.
The Main Market may suit a mature company seeking a regulated market with broad institutional and international visibility.
Size alone is not decisive. Financial history, IFRS readiness, internal control, governance, management capacity and the investor rationale need to be assessed together.
A Main Market listing normally involves legal counsel, financial advisers, auditors, communications advisers and Nasdaq. Responsibility for the prospectus, legal review, financial reporting, governance and verification should be documented in one work plan.
The prospectus is reviewed by the Swedish Financial Supervisory Authority and must align with all other communications. Nasdaq’s Main Market rulebook can require additional qualification work. Legal due diligence, financial history and board fact-checking should therefore start early.
After listing, the company is subject to MAR, the Main Market issuer rules, the Swedish Corporate Governance Code where applicable and continuing financial and corporate requirements. The board needs evidence that responsibility, internal control and disclosure work in practice.
The applicable rulebook and the marketplace’s current guidance should always be checked when the timetable is prepared. A marketplace comparison is part of the legal and strategic analysis, not a substitute for it.
How it works
Four connected workstreams.
The precise order is adapted to the company, but decisions, documentation and communications must use the same facts.
Readiness review
Review corporate history, governance, reporting, key agreements and organisation before the formal timetable is fixed.
Documentation and review
Coordinate due diligence, disclosure documents, approvals, marketplace questions and any fundraising from one source of truth.
Admission and day two
Close admission conditions and make sure reporting, disclosure and governance work after the first day of trading.
Common pitfalls
Where otherwise sound processes lose time.
- 01
Running IFRS conversion, internal-control work and the prospectus as separate projects.
- 02
Underestimating the time required for historical financial information, audit and prospectus review.
- 03
Addressing board composition and committees too late in the process.
- 04
Allowing marketing to move ahead of the prospectus and use inconsistent or insufficiently verified claims.
Questions and answers
Frequently asked questions
Concise answers to recurring questions. The details always depend on the company and the current rules.
01How does the Main Market differ from a growth market?+
Nasdaq Stockholm Main Market is a regulated market with a more extensive EU and marketplace framework. This affects the prospectus, financial reporting, governance, qualification review and continuing obligations.
02Is a prospectus required?+
A traditional Main Market listing will normally require a prospectus reviewed and approved by the Swedish Financial Supervisory Authority. Its format depends on the issuer and transaction, and the work must be coordinated with due diligence, audit and marketing.
03How should the board prepare?+
The board needs to understand disclosure, prospectus responsibility, MAR, reporting and governance. Composition, independence, committees, rules of procedure, instructions and reporting lines should be reviewed well in advance and tested before admission.
04Can a company transfer from First North?+
Yes, but a transfer is a separate qualification process. The company must meet Main Market requirements and plan the prospectus, financial information, governance and Nasdaq review. Previous listed experience helps but does not replace the new assessment.
Rules change. Check the current primary source before making a decision.
Current marketplace information ↗An initial conversation
What needs to happen before the next decision?
Tell us briefly about the company, the matter and the timetable. We normally respond within one business day.