A Share is a security expressing the holding of its owner in a corporate share capital. Each shareholder upon purchase of a share attains the right to participate and vote at the general meeting of shareholders, right to participate in profits of the company through distribution of the dividend and preemptive right to subscribe for new shares in case of any new share issue being conducted by the company.
Shares may be categorized according to several criteria, e.g.
- registered or bearer shares – ownership criterion
- physical or dematerialized shares – form of share criterion
- preferred or common shares – preference in respect to specified corporate rights criterion.
Only standardized instruments may be traded on the stock exchange, deprived of any individual features. That is why only dematerialized (existing in the form of computer record) common bearer shares have been admitted into trading on the stock exchange.
Preference relating to participation, voting rights, share in profits or other rights written in the company Statutes may be imparted to registered shares, only (except for non-voting shares, where preferential rights may apply to bearer shares also).
Rights to shares (pol. “PDA”) are a special type of securities listed on the stock exchange.
A number of additional activities have to be carried out to admit newly issued shares into trading on the stock exchange. These include formal allocation of shares and their registration with the National Securities Deposit. Listing may commence only after these formalities have been performed. Such process may take up to several weeks. The Rights To Shares (PDA) listing has been introduced to shorten the waiting time for first listing. Its advantage lies in introduction of trading just several days after the shares have been allocated. In result, persons who have purchased the newly issued shares can withdraw from their investment in favor of those investors, who did not participate in the public offering and wish to buy shares prior to their first listing on the stock exchange.
Dom Maklerski Banku Handlowego S.A. allows its Clients to perform buy/sell of shares transactions on the primary and secondary market.
We will intermediate in purchase of shares by our Clients on the primary market during the public offering (through WSE S.A.) provided such shares are being sold by distribution syndicates of which DMBH is a member. We also enable our Clients to buy/sell all shares listed on the WSE S.A., BondSpot S.A. and on foreign markets served by DMBH, irrespectively of the system of listing used.
