Noerr advises PEH Wertpapier AG on its downlisting from the regulated market to the Scale segment of the Frankfurt Stock Exchange

A Noerr team led by Philip Schmoll and Julian Schulze De la Cruz has advised PEH Wertpapier AG in connection with the transfer of its listing from the regulated market of the Tradegate Berlin Stock Exchange to the Scale segment of the Frankfurt Stock Exchange (“Downlisting”).

The legal basis for the Downlisting is the Location Promotion Act (“Standortfördergesetz”), which entered into force on February 10, 2026 and allows a transfer from the regulated market to an SME growth market without a prior delisting offer. A unique aspect of the mandate was the first-time use of a simplified inclusion document for a downlisting to the Scale segment, which Deutsche Börse AG introduced on June 12, 2026.

The advise covered, in particular, structuring the Downlisting, coordinating with the relevant stock exchanges, and preparing the necessary documentation, including the simplified inclusion document.

Advisors to PEH Wertpapier AG: Noerr Partnerschaftsgesellschaft mbB

Philip Schmoll (Associated Partner), Julian Schulze De la Cruz (Partner), Sebastian de Schmidt (Counsel, all Corporate & Capital Markets), Maximilian Leydecker (Associate, Corporate, all Frankfurt)