"During the first four years of its existence, Neuer Markt has developed into a permanent fixture in the European exchange landscape and an engine for growth and employment in Germany," said Volker Potthoff, member of the Executive Board of Deutsche Börse AG and responsible for Neuer Markt, summing up the segment's overall development. The increasing internationalization, he added, will definitely make Neuer Markt more attractive as an IPO platform, also for growth companies outside Germany.
Neuer Markt will expand its position as a quality segment for growth stocks, with liquidity and transparency foremost in mind. The latest extension of the rules and regulations are making an important contribution to this effort. With the standardization of quarterly reports, the publication of sanctions imposed in the event of violations of the rules and regulations and the obligation to report transactions in company shares by members of management and supervisory bodies (disclosure of directors' dealings), the market will become even more transparent. The rules and regulations will also be adapted to the changed market requirements on an ongoing basis in the future, Deutsche Börse said.
Since its founding in March 1997, Neuer Markt has established its position as the leading IPO platform in Europe. Last year, Neuer Markt had 139 new listings (133 of them IPOs); 24 of the newly listed companies came from abroad: 6 from the Netherlands, 4 each from Austria and Israel, 2 each from Luxembourg, the UK and the USA, and one each from Denmark, France, Ireland and Italy. The volume of new issues on Neuer Markt nearly doubled, from a good 7 billion euros in 1999 to more than 13 billion euros in 2000. About 25 percent of this volume was issued by companies based outside Germany. Roughly 45 percent of the total issuing volume on all European growth markets amounting to some 30 billion euros is floated on Germany's Neuer Markt. Neuer Markt is also becoming increasingly attractive for big stock issues. In the year 2000, the three biggest flotations of stock on Neuer Markt to date made up 30 percent of the total issuing volume in the segment.
