Agreements under private law with (initial) purchasers of shares or other marketable papers on the date up to which they may not be sold on the stock exchange, especially in the case of large blocks of shares. – The purpose of such a lock-up period is primarily to ensure that confidence in the company is built up on the part of shareholders in the case of newly established stock corporations. – In Germany, since 2002, such lock-up periods have had to be stated precisely in the listing prospectus (official market; official trading) or in the company report (regulated market; regulated market). However, such an obligation has not yet been imposed on over-the-counter securities. – See concert subscriber, blocking period, tag-along rights.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/

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