• What is Alternext?
• A tailor-made market for SMEs
• The listing sponsor: a key party for companies and investors
• Ensuring investor confidence
• A market model designed to support liquidity

Alternext has been created to allow small and midsized companies to access the financial markets through an alternative route that has easier requirements and meets their aims and aspirations.

Alternext is tailored to the needs of small and mid caps from all sectors of activity that wish to come to the equity market and benefit from streamlined listing conditions.

Applicants must meet the following eligibility criteria:

• select a Euronext-approved listing sponsor to prepare the listing and assist them throughout their life as a listed company,
• have two years' financial statements,
• offer securities that are freely negotiable and transferable.

Companies wishing to make a public offer must:

• have a minimum free float of €2.5 million, and
• produce a prospectus approved by the regulator.

Companies having made a private placement can apply for listing on Alternext and must:

• prove they have placed at least €5 million with five or more investors,
• produce an offering circular (i.e. prospectus not approved by the regulator), prepared under the responsibility of the company and its listing sponsor.

Companies in this category are not required to make a simultaneous public offer.