Subscription process

The subscription process for investors is as follows

1. What security?

Investors should first obtain precise information concerning the terms and conditions for the subscription and the security they wish to subscribe to. Detailed information on securities under subscription can be found in the subscription box.

2. In what volume?

Investors should give their bank the corresponding WKN / ISIN code or enter these details in the order screen. In addition a specific volume must be indicated for the subscription.

3. Where?

“Stuttgart” must now be entered as the name of the trading place in the order screen or the bank must be instructed to place the subscription order at Stuttgart.

4. What additional information is required (limits)?

As the securities in the subscription are issued on a fixed price basis the exact subscription or issue price is already known prior to the start of the subscription period in most cases. However, if investors wish to enter a limit, they must ensure that this limit is no lower than the subscription or issue price specified by the issuer in the terms and conditions for the issue. However, if an order is placed without a limit, the word “cheapest” must be entered in the order screen or the bank must be instructed to place the order at the “cheapest” price. It should be noted that the custodian bank may have its own separate charges for a subscription.

5. Validity of the subscription order?

New issues are only allocated after the expiry of the subscription period. Accordingly only those investors whose subscription order is still valid at this date receive an allocation. The subscription order must be valid at least up to the end of the subscription period for it to be taken into account in an allocation.

6. Sell orders

Sell orders for securities issued under the subscription cannot be placed on the Stuttgart stock exchange within the subscription period or are cancelled.