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Article: Germany's Neuer Markt Closing Amid Mounting Losses, Scandals.
- Article from:
- BIOWORLD Today
- Article date:
- November 4, 2009
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BioWorld International Correspondent
MUNICH, Germany - Deutsche Boerse AG, the company that operates Germany's most important stock markets, is closing the Neuer Markt as part of a larger restructuring in the company's exchanges. The Neuer Markt was launched in 1997 to provide an opportunity for high-growth, high-technology companies to raise capital in public markets.
Since its peak in March 2000, the Neuer Markt's index has lost more than 95 percent of its value. Bankruptcies, accounting scandals, criminal prosecutions and legal disputes over company delisting marred the market's public image in recent months.
Starting in early 2003, the ...