How to List a Company on the Stock Exchange
This program guides company founders, CEOs and CFOs through the entire listing journey: from assessing the opportunity and preparing internally, to the prospectus, the public offering and life as a listed company. The focus is on practical decisions, the role of each participant and the obligations that come with access to investors' capital. The content is purely educational and does not constitute legal or investment advice. Admission of issuers to the Moldova International Stock Exchange (BIMx) began on 28 September 2026, and the first listing is planned by the end of 2026.
What you will learn
- Assess the benefits, costs and trade-offs of listing, and choose between shares and bonds as a financing instrument.
- Choose between the Regulated Market and the MTF at BIMx, and know the admission stages and the timeline for the first listing.
- Plan the company's preparation: audit, financial reporting, corporate governance, shareholder structure and the team of advisers.
- Understand what a prospectus contains, how risks are described and what approval by the supervisory authority involves.
- Explain the stages of a public offering: pricing, subscription, allocation and the first day of trading.
- Know a listed company's obligations regarding reporting, inside information, market abuse and shareholder relations.
- Apply BIMx's specific requirements for shares on the Regulated Market and the MTF, and know how instruments listed on the BVM move to BIMx.
- Explain how municipal bonds and government securities are admitted to BIMx.
Syllabus
The Issuer's Guide: The Listing Process
A six-step journey through the listing process from the perspective of the company raising capital. The course explains the key decisions, the documents required and the obligations that continue after admission to trading.
- 01
Why list a company
We look at the benefits, costs and trade-offs of listing, as well as the choice between shares and bonds as a financing instrument.
12 min - 02
Listing on BIMx: the Regulated Market or the MTF
Learn which markets BIMx operates, how to choose between the Regulated Market and the MTF, what the admission stages are and where the timeline for the first listing stands.
12 min - 03
Preparing the company for listing
We look at what needs to be put in order before listing: audited financial statements, corporate governance, the shareholder structure and the team of advisers.
14 min - 04
The prospectus and documentation
We learn what a prospectus contains, how to present risk factors properly and how the approval process with the supervisory authority works.
13 min - 05
The public offering and admission to trading
We walk through the mechanics of the offering: IPO or direct listing, pricing through bookbuilding, subscription, allocation and the first day of trading.
15 min - 06
Obligations after listing
We look at the ongoing responsibilities of a listed company: periodic reporting, disclosure of inside information, preventing market abuse, investor relations and the general meeting of shareholders.
14 min
Admission to BIMx in Practice
The specific eligibility requirements, documents and stages for admitting shares to the Regulated Market and the MTF, plus the path for issuers whose instruments currently trade on the Moldova Stock Exchange (BVM).
- 07
Shares on the Regulated Market: requirements, file, stages
Learn what conditions the shares and the issuer must meet for the BIMx Regulated Market, what the file contains and how the process runs up to the first day of trading.
13 min - 08
Shares on the MTF: the Agreement in Principle and actual admission
Learn the MTF conditions, why an agreement with an Intermediary Participant is mandatory and how the two stages work: the Agreement in Principle and actual admission.
12 min - 09
Issuers listed on the BVM: how they reach BIMx
Learn why admission to BIMx is not an automatic transfer from the Moldova Stock Exchange (BVM), which existing documents can be reused and how the dialogue with BIMx begins.
10 min
Municipal Bonds and Government Securities at BIMx
How bonds issued by local public authorities and government securities issued by the Ministry of Finance reach trading on the BIMx Regulated Market.
- 10
Municipal bonds at BIMx
Learn how a mayor's office gets its bonds admitted to the BIMx Regulated Market, why an Initiating Participant is required and what the file contains.
11 min - 11
Government securities at BIMx
Learn which government securities can be traded on the BIMx Regulated Market, how they are admitted and what costs are involved.
9 min
Other learning tracks
Introduction to the Capital Market
The basics of financial instruments, trading mechanisms and the role of the stock exchange.
9 lessons Track 03Financial Analysis for Investors
Tools for evaluating and interpreting issuers' financial reports.
9 lessons Track 04ESG and Green Finance
Sustainability standards and instruments designed to finance green projects.
5 lessons Track 05The Capital Market for Women Entrepreneurs
A dedicated program on how women entrepreneurs can access financing through the capital market.
5 lessons Track 06BIMx Trading Infrastructure
ARENA Trading, exchange trader certification, trading simulations, membership admission, and the broker's role in admitting issuers.
9 lessons