Document background
A Preliminary Offering Memorandum is a critical document in the capital raising process, prepared before a company offers securities to the public or lists on a regulated market in Austria. It provides comprehensive information about the issuer, its business, and the proposed offering, while clearly indicating its preliminary nature. The document must comply with the EU Prospectus Regulation and Austrian Capital Market Act (KMG), containing required disclosures such as risk factors, financial statements, business description, and management information. While the final offering memorandum requires approval from the Austrian Financial Market Authority (FMA), this preliminary version allows companies to gauge investor interest and gather feedback while maintaining regulatory compliance. It's particularly important in the Austrian market, where both domestic and EU-wide regulations must be considered, and it serves as a key marketing and due diligence tool for potential investors.
