Acting Like That

Participation Certificate

A Participation certificate (PC) is a special form of participation in Swiss stock corporations (Partizipationsschein). Although this security secures property rights in the issuing company, the participation certificate does not confer any membership or voting rights. The issue of this special financing tool is intended to provide the company with equity capital. By not having voting rights, the company also protects itself against unintended influences from unwanted shareholders. After all, these shareholders have no voting rights and thus only limited or no influence at all on the company's policy. The participation certificate cannot be compared with the "Certificate of Participation" in Anglo-Saxon parlance as this Certificate of Participation) is a fina… more »