The Issuer is required to appoint a Listing Sponsor to list on the Public Market to manage the due diligence and issuance lifecycle on behalf of the Issuer.
A Listing Sponsor is and must be a licensed financial institution regulated in their respective jurisdiction and onboarded to FUSANG Exchange as an Exchange Member (eg: banks, trustees, lawyers), in compliance with FUSANG's Rules of Exchange (section 8).
For more information about the obligations of Listing Sponsors, please review FUSANG's Rules of Exchange (section 13).