A joint stock company (AS) is an open company whose shares may be objects of public circulation. The company is a legal person.

• The minimum amount of equity capital is EUR 25,000.
• The equity capital and the nominal value of the shares must be divisible by the smallest nominal value of the company’s shares without remainder. The nominal value of a share may not be less than one cent.

A share may be a registered share entered in the register of stockholders, or a dematerialised share recorded in the central securities depository. A joint stock company may have only one type of shares: either registered shares or dematerialised shares. The meeting of stockholders may decide to convert dematerialised shares into registered shares and vice versa. Upon adopting a decision on the conversion of shares, the articles of association must be amended accordingly.