NASDAQ OMX today announced ending Certified Adviser status of Deloitte Advisory on the Baltic alternative market First North starting May 1, 2011. As of now, altogether 18 Certified Advisers are acting on First North in the Baltic countries.
First North gives growth companies easier access to equity capital and visibility in the Baltic financial markets. The companies admitted to trading on First North are given the same possibilities as companies listed on a regulated market, but the regulations are lighter. A company is required to have Certified Adviser, supporting the company in complying with the disclosure requirements and other rules, so that investors have sufficient amount of information in order to take informed investment decisions.
There are 18 Certified Advisers acting on First North in the Baltic countries. Eight of them provide services in Estonia (Cresco Väärtpaberite AS, Law Firm Aare Raig, Law Firm LAWIN, Law Firm SORAINEN, Law Firm VARUL, AS Redgate Capital, SEB Enskilda and Swedbank), four in Latvia (Advante Corporate Finance, Ardente, Eventus Corporate Finance and SEB Enskilda) and six in Lithuania (Baltijos įmonių finansai, Deloitte Lietuva, GILD, SEB Enskilda, Swedbank and Verslo konsultacijų centras).
About First North
First North is an alternative marketplace operated by NASDAQ OMX Nordic and Baltic stock exchanges. Alternative market does no have the same legal status as a regulated market in the EU. Companies traded on First North have to follow the rules of First North instead of the requirements for a regulated market.
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