Regional Equity Market Segment 

Regional Equity Market Segment (REMS) provides midsize companies with the opportunity to raise capital through simplier and more cost-effective means.

Key benefits include:

• Understanding the specific needs of midsize companies. 
• Increasing foreign and regional investor interest to ensure a dynamic and more liquid market. 
• Reducing the administrative burden and reporting requirements for issuers. 
• Providing an alternative to bank lending when it is unavailable or offered on unfavorable terms. 
• Offering less expensive and simpler listing and capital-raising procedures. 
• Enhancing the attractiveness of investing within the AIFC jurisdiction, which protects investor interests in line with international standards and practices.

Direct Listing 

A Direct Listing is a process for a company to become public without raising capital through the conventional initial public offering process (IPO). Unlike an IPO, in which the shares would typically be sold to prospective investors at a discount through a bookbuilding process, in a direct listing, the initial sale is conducted by the selling shareholders through the Exchange, with the prices determined based on matching buy and sell orders in accordance with the AIX Trading Rules. For the purposes of a direct listing, AIX allows issuers to have zero free float on the Admission Date and to meet these requirements over a 1-year period. 

By going public, the company allows existing shareholders to freely sell their shares in the public market. Besides, with a direct listing, there is no need for traditional underwriter involvement and bookbuilding which decreases the time and cost of the listing. We believe that allowing for multiple pathways for private companies to achieve exchange listing will encourage more companies to participate in the public equity markets and provide investors with a broader array of attractive investment opportunities. 

Mining Segment

In 2019, AIX approved Mining Company Rules based on the standards applicable to mining company listings on the Toronto and Australian stock exchanges. The Rules apply a differentiated approach separating large mining companies in advanced stages of development (Tier 1) from junior companies with a higher degree of risk and potentially higher returns (Tier 2). A key requirement for companies is that they have a qualified report on geological performance and mineral reserves.

Depending on the assigned tier, mining companies may be exempt from net income and minimum market capitalization listing requirements. Issuers will be required to demonstrate that they employ qualified management and technical personnel, and that their geological reporting is verified by independent experts in accordance with the best international mining industry standards.

Please refer to the AIX Mining Company Rules within the AIX Business Rules. 

SME bonds 

SME Bonds are designed to support small and medium-sized enterprises (SMEs) in obtaining short-term funding within established limits by leveraging the opportunities of the capital markets.

AIX has adjusted the listing requirements and revised its fees for SMEs, while at the same time introducing specific obligations to ensure the timely servicing of debt by such companies.

For more detailed information, please refer to the SME Bond Guide. 

Commercial paper 

Commercial paper is a commonly used type of unsecured, short-term debt instrument issued by companies with proven creditworthiness and typically used for financing the issuer’s short-term working capital needs (payroll, accounts payable, inventories, other operating expenses related to core activities of the issuer). 

Commercial paper may be offered to professional (accredited) investors in any denomination. Given that offers are directed at Accredited Investors, it will be sold in lots of at least US$100,000. Other corporates, financial institutions, high-net-worth individuals, and money market funds are usually buyers of commercial paper. 

Market notice on Credit Rating and Prudential Requirements for issuers of Commercial Papers