Amergeris: Exchange listing
Lux = Listing USD 11k & PPM USD 11k mandatory (& complications possible)
Vienna = Listing USD 11k (no PPM mandatory - if needed USD 11k)
Internal info: In Luxembourg, they check everything from scratch and may reject a case, whereas in Vienna, the paying agent and SIX SIS are determinant for the exchange assessment.
Sample TEXT:
If your investor does not explicitly need a PPM to be able to invest, you can omit the PPM. Furthermore, it makes no difference to the investor whether it will be Luxembourg or Vienna, as it is only a matter of getting the box for the listing in the product description checked. Trading-wise, everything continues to go through the paying agent. In Luxembourg they will analyze everything in detail, while in Vienna everything will be handled in a straightforward way. Based on these facts, I would favor Vienna.