Chapter 13, Section 8 of the Swedish Securities Market Act (2007:528) states that a stock exchange is to have rules regarding takeover bids relating to shares admitted to trading on a regulated market run by that stock exchange. The rules are to comply with the requirements set out in the EU Takeovers Directive (2004/25/EC) and be otherwise appropriate.
Nasdaq Stockholm and Nordic Growth Market NGM have issued such (identical) rules for their respective regulated markets and delegated to the Swedish Securities Council the task of interpreting and examining issues concerning exemption from the rules. To see the Takeover Rules for regulated markets in Sweden, please click on the following link: Takeover rules for Nasdaq Stockholm and NGM Equity
The Swedish Corporate Governance Board has issued Takeover Rules for the Nasdaq First North, Nordic MTF and Spotlight Stock Market trading platforms. The Rules essentially correspond to those of companies whose shares are admitted to trading on a regulated market. It is the responsibility of the Swedish Securities Council to interpret and examine matters regarding exemption from the Rules. To see these Rules, please click on the following link: Takeover rules for certain trading platforms