About
About Issuer Financing
Issuer Financing is a capital provider to listed and pre-listing companies. It commits capital by subscribing for newly issued securities as principal, rather than arranging or advising on an issue for a fee. It is not a broker-dealer, an underwriter, a placement agent or an investment adviser, and it holds out no such service.
Key takeaways
- One role, taken as principal. We subscribe for securities issued by the company. There is no agency mandate, no brokerage account and no advisory relationship layered on top of it.
- No track record is published. No deal count, no amount deployed, no client list, no case study. What an issuer does with its capital structure is the issuer’s to disclose, not ours.
- Three principals are named, with what each is answerable for. Each entry below states a role and the decisions that sit with it on a transaction, and stops there. This site publishes no career histories, no qualifications and no photographs of anybody.
- Every regulatory statement is sourced. Rules, thresholds and holding periods are linked to the rulebook or the regulator, so a reader can check the claim rather than trust it.
The entity
Issuer Financing is a trading name. The terms on which this site is published are set out in the legal notice, and how data submitted through the site is handled is in the privacy policy. Correspondence is by email; no telephone number is published, so anyone contacting us has a written record.
The registered name, the jurisdiction of incorporation and the registered office are stated on the legal notice: Bourse Issuer Capital AG, incorporated in Switzerland and entered in the Commercial Register of the Canton of Zürich, at Bahnhofstrasse 21, 8001 Zürich. Where a fact about this firm cannot yet be stated, it is left out rather than approximated — the same rule this site applies to a statutory figure it cannot source.
What you can check about us, and what you cannot
A counterparty in this market should be checkable. It is more useful to say where the checkable evidence currently stops than to imply there is more of it.
| What a reader might want to check | Available? | Where it stands |
|---|---|---|
| The regulatory claims on this site | Yes | Every rule, threshold and holding period is linked to the regulator, the rulebook or the statute on the page that states it |
| The research behind the market directory | Yes | Published in full, with sources and a confidence flag for each of 58 markets, as a machine-readable screen file |
| The publisher's registered details | Yes | The legal name, the legal form, the register and the registered office are stated on the legal notice and repeated in the footer of every page |
| Who is answerable for a page | Yes | Each explanatory page carries a byline naming the principal answerable for it and the date it was last reviewed; the three roles are set out below |
| A regulatory register entry | No, by design | We are not a broker-dealer, an adviser or a placement agent, so we do not appear on those registers and never will while that stays true |
| A track record or client list | No | None is published. What an issuer does with its capital structure is the issuer’s to disclose, not ours |
| Position as at 18 August 2026. Not an offer, a quote, or a rate card. | ||
What we are, and what we are not
Most confusion about firms in this market comes from role, not product. A capital provider, a placement agent and an adviser can all be in the same room on the same transaction, and only one of them writes the cheque.
| Role | Do we act in it? | What that means in practice |
|---|---|---|
| Capital provider | Yes | We subscribe for newly issued securities as principal |
| Placement agent or broker-dealer | No | The issuer appoints a registered firm separately if one is needed |
| Underwriter | No | We do not take a book onto our balance sheet to resell it |
| Investment adviser | No | Nothing published or discussed is a recommendation to any person |
| Counsel | No | Securities law advice comes from the issuer's own lawyers |
| Role description only. Not an offer, a quote, or a rate card. | ||
How we work with an issuer
Directly, and in writing. An issuer sends the exchange, the float, the traded value and the use of proceeds; it gets back a structure and the conditions attached to it. The process page sets out the seven stages, and the eligibility page sets out the criteria that decide whether there is a transaction at all.
Because we take a position rather than a fee, our interest and the issuer's align on almost everything and diverge in one place: the price at which securities are issued. Every capital provider in this market has that tension. The useful test of a counterparty is not whether it exists but whether they will say so, and whether the structure they propose survives the dilution arithmetic being written out in full.
The people
Three principals are named below. Each entry states a role and what that person is responsible for on a transaction, and then stops: there are no years of experience, no former employers, no qualifications and no photographs, because a role and the decisions attached to it are what bear on a financing, and the rest is decoration.
Managing Principal
Reto Hediger
Reto Hediger is responsible for the firm as a whole and for the decision to commit capital to a situation or decline it. PIPE transactions and registered direct offerings are the structures most of that decision runs through, and he answers for the terms the firm proposes on them.
Head of Structuring
Corinne Amrein
Corinne Amrein leads structuring on convertible instruments and equity facilities. She sets the conversion and subscription mechanics on a transaction, including the pricing window, any floor or cap and the drawdown limits, and she writes out the dilution those mechanics produce before terms go to an issuer.
Head of Markets
Nadja Zehnder
Nadja Zehnder owns the market directory and the screen behind it. She holds the tier and the confidence flag for each of the 58 markets against that market's primary rulebook, and she is the one who says whether a structure survives its capacity rules, its pre-emption regime and its resale route.
How this material is written, who reviews it, and how a correction is made and shown are set out on the editorial standards page, and every change to a page is recorded in the corrections log.
What we publish, and what we will not
We publish mechanics: what a structure does, which rule constrains it, what has to be true before securities can be resold, and what the issuer has to produce. That is the gap between a law firm client alert and an encyclopaedia entry, and it is where an issuer actually needs help.
We do not publish a rate card, and no discount, coupon or fee appears anywhere on this site. We do not publish outcome promises about funding, timing or when shares will trade freely, because those depend on counsel, transfer agents and regulators. And we publish no ratings or testimonials about ourselves: with no verifiable record, the honest state is rating-ineligible. Start with the instruments or the markets, or write to us.
About: frequently asked questions
Who is behind Issuer Financing?
Three principals. Reto Hediger, Managing Principal, is responsible for the firm as a whole and for its PIPE transactions and registered direct offerings. Corinne Amrein, Head of Structuring, sets the conversion and subscription mechanics on convertible instruments and equity facilities. Nadja Zehnder, Head of Markets, holds the tier and the confidence flag on each of the 58 markets, and the capacity, pre-emption and resale positions behind them. The records that would let a reader corroborate those roles independently are not published yet, and the people section says so.
Is Issuer Financing a broker-dealer or an investment adviser?
No. No broker-dealer, investment-banking or investment-advisory services are provided or held out, and no recommendation is made about the suitability of any structure for any issuer. Where a transaction requires a registered placement agent, the issuer appoints one separately and that firm, not us, carries the agency role.
How is Issuer Financing paid?
As an investor rather than as an agent. The return comes from the securities subscribed for and what subsequently happens to them, not from an advisory retainer or a success fee on someone else's capital. That is also where our interest and the issuer's diverge, and the divergence is stated openly on this page.
Why is there no track record, client list or case study on this site?
Because a reader cannot verify any of them. Deal counts, amounts deployed and client logos are the easiest things on a finance website to assert and the hardest to check, so this site describes capability and process instead. It also publishes no ratings or testimonials about itself, deliberately.
Which markets does Issuer Financing cover?
Fifty-eight markets are screened and each has a dedicated page: twelve where the structure works substantially as intended, thirty-two where it works only with a material modification, and fourteen where it does not work at all. Publishing a page is not a claim of capability, and the forty-six constrained and closed pages say so in their own text. Those pages exist because the capacity rules, the approval thresholds and the route by which new shares reach the market differ in each one, and a structure that ignores that is not a structure.
If this is about a live situation
This page is about the counterparty, not the transaction. The eligibility criteria are where a real situation starts.