Contributed By CHSH Cerha Hempel Spiegelfeld Hlawati
A prospectus must contain all necessary information to enable investors to make an informed assessment of the assets and liabilities, financial position, profit and losses, the prospects of the issuer and of any guarantor, and of the rights attached to such securities. To meet the principle of transparency, this information must be presented in a form which is easy to analyse and which is easily comprehensible.
Financial statements are to be included in the prospectus. Consolidated financial statements are prepared according to IFRS standards, whereas others (on a standalone level) apply Austrian GAAP standards. It is crucial that although the requirements regarding mandatory minimum contents are met, additional information may be needed to give the investor the chance to make a well-founded decision.