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Equity Capital Markets (ECM) law in Thessaloniki, Greece refers to the branch of financial and corporate law that regulates transactions involving the raising of capital through the issuance of shares and other equity-linked instruments. Thessaloniki, as Greece’s second largest city and a growing commercial hub, hosts an increasing number of companies that participate in capital markets. Businesses turn to public or private offerings, including stock exchange listings or private placements, to attract investment. ECM law provides the legal foundation for these activities, ensuring compliance with both Greek and European Union regulations. Legal practitioners in Thessaloniki are experienced in areas such as initial public offerings (IPOs), secondary share issuances, rights issues, and block trades.
Seeking legal counsel in equity capital markets is vital for various reasons. Individuals and businesses commonly need ECM legal assistance in the following situations:
A qualified ECM lawyer can help minimize legal risks, optimize tax efficiency, and streamline complex regulatory processes.
Equity Capital Markets activities in Thessaloniki are governed by both Greek national laws and European Union directives. Key legal instruments include Law 4548/2018 on Sociétés Anonymes (public limited companies), Law 4706/2020 introducing corporate governance reforms, and the Capital Markets Law 4514/2018, which transposes the EU’s Markets in Financial Instruments Directive (MiFID II) into Greek law.
The Hellenic Capital Market Commission (HCMC) is the primary regulatory authority overseeing ECM activities, issuing guidelines, supervising compliance, and enforcing rules. The Athens Exchange is the main marketplace for public offerings, and companies must adhere to its listing and disclosure requirements. Laws address issues such as prospectus publication, investor disclosures, insider trading prohibitions, and anti-money laundering measures.
Attention must also be given to tax regulations, cross-border investment rules, and the protection of minority shareholders, especially where international investors are involved. Legal advice is indispensable for navigating these intersecting regulatory frameworks in Thessaloniki’s growing business environment.
An IPO is when a company offers its shares to the public for the first time. In Thessaloniki, IPOs are regulated by Greek law and EU rules, involving preparation of a prospectus, approval by the HCMC, and compliance with Athens Exchange requirements.
Yes, companies must meet criteria regarding minimum share capital, financial history, corporate governance, and public float. An ECM lawyer can help ensure your company meets these prerequisites.
While Greece is open to foreign investment, certain sectors may have restrictions or require special approvals. Cross-border transactions may also trigger additional regulatory scrutiny.
Issuers must provide thorough and ongoing disclosures to maintain market transparency, including financial reports, significant company events, and insider transactions, as set out in national and EU laws.
Greek law protects shareholder rights through mandatory disclosures, voting rights, dividend entitlements, and avenues to challenge company decisions or seek remedies for unfair treatment.
Penalties can include fines, suspension of trading, or even criminal prosecution in cases of serious misconduct such as market manipulation or insider dealing.
The process duration depends on the company’s preparedness and regulatory workload, but on average it may take several months from initial planning to listing on the exchange.
Yes, there are tailored market segments and listing options for SMEs, including lighter regulatory requirements and lower costs, designed to support their capital raising efforts.
Generally, a prospectus is required for public offerings, but exemptions apply in limited cases, such as private placements or small-scale offerings. Legal guidance is needed to assess eligibility.
The Hellenic Capital Market Commission is the chief regulatory body, with policing and enforcement responsibilities. The Athens Exchange administers the listing process and trading.
People seeking more information or official guidance on equity capital markets in Thessaloniki may find the following bodies and organizations useful:
If you are considering engaging in equity capital markets activities or have concerns regarding compliance or your rights, it is advisable to consult a specialized ECM lawyer in Thessaloniki. Begin by gathering relevant documents describing your business structure, intended transaction, and financial details. Schedule a consultation with a legal expert to discuss your goals and challenges. Your lawyer can help you assess regulatory requirements, draft necessary documents, represent you before regulators or exchanges, and provide ongoing support. Proactive legal guidance minimizes risk, saves time, and improves the likelihood of a successful transaction in Greece’s growing capital markets.
