Best Equity Capital Markets Lawyers in Katerini

1. About Equity Capital Markets Law in Katerini, Greece

Equity Capital Markets (ECM) law in Greece governs how companies raise capital by issuing shares or other equity instruments and how those instruments are traded on regulated markets such as the Athens Exchange (ATHEX). The framework combines Greek national statutes with European Union rules that Greece implements and enforces. In Katerini, as in the rest of Greece, corporate issuers, underwriters, and investors follow these rules through national regulators and exchanges located in Athens or Thessaloniki.

Key responsibilities include disclosure requirements, prospectus approvals, trading compliance, and market conduct oversight. While there is no separate local ECM code unique to Katerini, local practitioners coordinate with national regulators to ensure issuances meet Greek and EU standards. Understanding both the practical steps and the legal safeguards helps residents of Katerini navigate public or private offerings more confidently.

Respect for investor protection, transparent price discovery, and orderly markets remains central to ECM in Greece. Practitioners must align with ongoing EU developments, including cross-border issuance rules and market abuse safeguards. This ensures credibility for offerings that may involve investors outside Greece as well as in Katerini.

“In Greece, ECM activities are primarily governed by national law harmonized with EU directives, with the Hellenic Capital Market Commission supervising market integrity.”

2. Why You May Need a Lawyer

• You are a new issuer in Katerini considering a public offer of shares and need to prepare a legally compliant prospectus and listing plan.
• You represent an investor in a private placement and require guidance on securities eligibility, transfer restrictions, and disclosure obligations.
• Your company plans a dual listing or cross-border offer and requires coordination between Greek regulators and EU authorities.
• You suspect misrepresentation or omissions in a draft prospectus and need a rapid corrective process with the Hellenic Capital Market Commission (HCMC).
• You are facing a corporate action such as a merger, merger by absorption, or equity financing that triggers disclosure and market abuse concerns.
• You need ongoing compliance counsel to monitor trading activity and implement procedures to prevent insider trading and market manipulation under EU MAR rules.

3. Local Laws Overview

Law 3556/2007 on Public Offers and the Admission of Securities to Trading governs how securities are offered to the public and how they become tradable on Greek markets. Enacted in 2007, it remains a cornerstone for determining when a prospectus is required and how bids are regulated for Greek investors, including residents of Katerini. This law interacts with EU rules to shape issuer obligations and regulator oversight.

Regulation (EU) 2017/1129 on the Prospectus Regulation sets the EU-wide standard for the content and format of prospectuses used in public offerings and listing admissions. Greece implements this regulation through national provisions and approvals by the HCMC. The regulation has been in effect since 2019, with ongoing updates to reflect market practice and technology changes. This provides uniform rules for issuer disclosures across member states, including Greece.

Regulation (EU) 596/2014 on Market Abuse (MAR) addresses insider dealing, unlawful disclosure of inside information, and market manipulation. Greece applies MAR with national enforcement practices coordinated by the HCMC and ESMA guidance. MAR has applied since 2016, guiding issuer, intermediary, and trading activities to preserve market integrity in Katerini and beyond.

These sources illustrate how ECM in Katerini aligns with Greek authorizations and EU-wide standards. For practical navigation, you will often engage with the HCMC, ATHEX, and your counsel to ensure all disclosures, filings, and trading practices comply with these rules.

“EU Prospectus Regulation and MAR provide a common baseline, while Greek law adds procedural specifics for issuers and markets operating in Greece.”

4. Frequently Asked Questions

What is Equity Capital Markets law in Greece and how does it relate to Katerini?

Equity Capital Markets law governs how shares and equity instruments are issued, offered to investors, and traded. In Katerini, you apply national Greek rules and EU regulations to issuances and trading activities that occur in broader markets or on the Athens Exchange. Local practice involves coordinating with regulators in Athens or Thessaloniki.

How do I start a public offering in Greece as a Katerini company?

Begin with a qualified prospectus prepared by a licensed sponsor and reviewed by the HCMC. Then file the prospectus for approval and prepare for listing on ATHEX if required. Your legal counsel coordinates timelines, documents, and regulatory interactions.

What is a prospectus and when is it required in Greece?

A prospectus is a formal document detailing a securities offering and the issuer’s business. It is required for most public offers and listings under Law 3556/2007 and the EU Prospectus Regulation, except for certain private placements. Approval is obtained from the HCMC before marketing.

How long does an ECM process typically take in Greece?

Public offerings often span 3 to 6 months from initial planning to listing, depending on disclosure complexity and regulatory feedback. Private placements can be shorter, around 6 to 12 weeks, with expedited documentation if compliant with exemptions.

Do I need a Greek lawyer to handle ECM matters in Katerini?

Yes. A local ECM attorney ensures compliance with Greek and EU requirements, coordinates with the HCMC and ATHEX, and mitigates translation and registration risks for Greek investors. They also help with cross-border aspects if your offering targets non-Greek investors.

How much does ECM legal counsel typically cost in Greece?

Fees vary by the complexity and scale of the offering. Expect a base retainer plus itemized charges for drafting, filing, and negotiations, plus potential success fees tied to listing milestones. In Katerini, local firms may price similarly to Athens firms for larger operations.

What is the difference between a private placement and a public offer in Greece?

A private placement targets a limited number of qualified investors and may be exempt from a full prospectus in some cases. A public offer targets a broad investor base and requires a prospectus approved by the HCMC. Public offers typically need wider disclosure and regulatory scrutiny.

How can I ensure compliance with MAR in Greece?

Implement internal policies to prevent insider trading and ensure timely disclosure of price-sensitive information. Train staff and establish a compliance program aligned with MAR guidance from ESMA and the HCMC. Ongoing monitoring is essential for continuous compliance.

When did Greek ECM regulations undergo notable updates most recently?

EU regulations such as the Prospectus Regulation and MAR have driven ongoing Greek updates since their implementation. Greek practice also evolves with ATHEX rule changes and HCMC guidance issued periodically to reflect market developments. Your counsel should monitor notices from the HCMC and ATHEX.

Where do I file the prospectus or offering documents in Greece?

Prospectuses are submitted to the Hellenic Capital Market Commission for approval. Once approved, they are used for the offer and listing process on ATHEX. Your lawyer coordinates the filing and any amendments with regulator feedback in mind.

Is there a local tax treatment consideration for ECM in Katerini?

Tax considerations depend on the securities and structure of the offering. Greece applies corporate tax rules to issuer income and may apply withholding on distributions. Your tax advisor should be engaged alongside your ECM attorney to integrate tax planning with regulatory compliance.

5. Additional Resources

• Hellenic Capital Market Commission (HCMC) - The national regulator responsible for supervising Greek securities markets, approving prospectuses, and enforcing market integrity. Website: https://www.hcmc.gr/en/
• ATHEX Group - Operates the Athens Stock Exchange and related markets, provides listing rules, and market data. Website: https://www.athexgroup.gr/en
• European Securities and Markets Authority (ESMA) - EU-wide regulator providing guidance on prospectus, MAR, and supervisory convergence. Website: https://www.esma.europa.eu/

6. Next Steps

1. Define your ECM objective and timeline with a Katerini-based or Thessaloniki-area law firm specializing in capital markets. Clarify whether you will pursue a public offer or a private placement. Plan for regulatory milestones and investor targets.
2. Engage a qualified ECM attorney to conduct a pre-engagement assessment, assemble a data room, and prepare an initial disclosure strategy aligned with Law 3556/2007 and EU rules. Schedule an initial consultation within 2 weeks.
3. Commission a readiness review of your corporate disclosures, governance documents, and financial statements to ensure compatibility with Greek and EU listing requirements. Allocate 4-6 weeks for this phase.
4. Draft or update the prospectus (or private placement memorandum) with your counsel, and prepare for HCMC review. Include risk factors, use of proceeds, and material contracts as required.
5. Submit the prospectus to the HCMC for approval and coordinate with ATHEX on listing conditions if you plan a public listing. Expect examiner questions and plan for responses over 4-8 weeks.
6. Implement ongoing compliance measures, including MAR-based insider trading controls, disclosure protocols, and periodic reporting. Establish a continuous monitoring schedule with your legal counsel.
7. Maintain contact with local counsel for regulatory updates and market practice changes that affect future offerings or investor relations in Katerini and Greece.