Germany's leading postproduction player Das Werk has been given the greenlight by the German Stock Exchange to change its listing from the Neuer Markt to the Frankfurt's Geregelter Markt from Monday 11 November.
Das Werk, which had been listed on the Neuer Markt since its IPO in August 1999, explained that the change to another stock exchange had been motivated by the desire to cut costs.
Earlier this year, other Neuer Markt-listed media companies such as Helkon Media (now in insolvency proceedings), F.A.M.E. (dissolved) and RTV Entertainment had taken the decision to move over to the Geregelter Markt.
At the time, Helkon's management had argued that 'this section change will lead to considerable cost savings due to the substantially lower costs charged on the Geregelter Markt as compared with those charged on the Neuer Markt which are in no way proportional to the current situation on the capital markets.'