To qualify, a company must meet the following basic criteria: At least one year in existenceor proforma documentation Privately owned (this is not a dual-listing for existing public companies, but is an IPO) Can be domiciled anywhere in the world. Good financial statements in International or U.S. GAAP format (but do NOT need to be audited) At least 30 shareholders A minimum of 500,000 Euros has been invested in the company (Paid-up capital) Shares to be listed Up to 100% of the ownersÃ¢â¬â¢ shares will be Ã¢â¬ÅregisteredÃ¢â¬Â and become free trading and listed on the Exchange, but these shares may be subject to a Ã¢â¬Ålock upÃ¢â¬Â agreement for a determined period of time to permit the financing to take place first. Company Valuation A company can expect a substantially higher public market valuation than would be attributed to it as a private concern. For example, private companies are typically valued at a multiple of 3 to 5 times EBIT, whereas this same company, in a public market with liquidity of its stock, would have a valuation of 15 to 20 or more times EBIT. And even development stage companies with no revenue or profits often have very high valuations as public companies.