Delisting

In the small cap scene, it remains a hot topic, even if the legislator has made improvements: The delisting decisions of listed companies. It is true that a closing price equivalent to the six-month average price is prescribed for shares from the regulated market segments. However, this rule does not apply to companies from the over-the-counter market. However, stock market trading for private investors is generally not impossible even after the delisting has been implemented. Most securities will continue to be traded on individual regional exchanges. In particular, the Hamburg Freiverkehr is very active and continues to trade. In addition, there is telephone trading on the platform of Valora Effekten - albeit with quite large spreads between buying and selling prices in each case. BGFL regularly updates the delisting overview. Further information on the topic is provided by BaFin HERE.