Euronext Growth becomes an EU 'SME Growth Market'

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Euronext listed small and mid-caps to benefit from simplified market processes for raising capital or issuing bonds

Brussels, Dublin, Lisbon and Paris – 29 October 2019 – Euronext today announces that Euronext Growth[1] – its pan-European MTF dedicated to small & mid-caps – has been officially registered as "SME Growth Market" for both shares and bonds by the competent authorities in Belgium, France, Ireland and Portugal[2]. This status, introduced under MiFID II, has been designed to facilitate access to capital markets for European SMEs by further developing qualified markets to cater to the specific needs of small and medium-sized companies.

Thanks to the SME Growth Market status, Euronext Growth listed companies will benefit from simplified market processes in two key legislations: the Prospectus Regulation and the Market Abuse Regulation (MAR). Benefits include:

  • the use of lighter prospectuses at both initial and subsequent admissions (the EU Growth prospectus and the simplified prospectus under the simplified disclosure regime for secondary issuance), which will reduce workloads and facilitate issuers’ capacity to raise funds on capital markets;
  • exemptions from specific obligations under the Market Abuse Regime: issuers listed on an SME Growth Market benefit from a lighter insider list disclosure regime.

Those evolutions are first steps to additional alleviations and benefits expected to be implemented in the years to come for SME Growth Markets. For investors, these will materialise into more attractive opportunities to invest in European SME shares and bonds.

Stéphane Boujnah, CEO and Chairman of the Managing Board of Euronext: “Becoming an SME Growth Market will further equip Euronext Growth with the necessary tools to raise the profile and visibility of listed SMEs. In line with its pan-European expansion, the SME Growth Market status will strengthen Euronext’s ambition to forge a harmonized market.”

From young, growth-oriented companies to long-established enterprises, Euronext offers various types of markets with multiple entry points to provide issuers with a tailor-made listing offer. Euronext’s regulated market is mainly dedicated to large cap and mid-cap companies. Euronext Growth provides fewer obligations and is intended primarily to small and mid-cap growth companies. Euronext Access is an MTF offering companies at an early stage an easy access to capital markets and a framework adapted to their specific needs.

Euronext is fully committed to support the financing of small and medium-sized companies on its pan-European markets by providing them with a wide range of services and tailored coaching programmes such as TechShare, IPOready and FamilyShare, and through its expansion beyond its core domestic markets in Germany, Italy, Spain and Switzerland.

Euronext markets welcome 1,109 listed SMEs operating across a wide range of sectors, 300 of which joined within the past 5 years (including 50% of tech companies).

Media contacts :
Pauline Bucaille (Europe/Paris) : +33 1 70 48 24 41; pbucaille@euronext.com 
Pascal Brabant (Brussels): +32 2 620 15 50; pbrabant@euronext.com 
Michael Russell (Dublin): +353 1 617 4221;  mrussell@euronext.com
Sandra Machado (Lisbon): +351 210 600 614; smachado@euronext.com

Analysts & investors:
Aurélie Cohen : +33 1 70 48 24 17; ir@euronext.com

[1] Euronext Growth® Brussels, Dublin, Lisbon and Paris

[2] The local regulators: the FSMA (Belgium), the AMF (France), the Central Bank of Ireland and CMVM (Portugal)

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About Euronext Euronext is the leading pan-European exchange in the Eurozone, covering Belgium, France, Ireland, The Netherlands, Portugal and the UK. The Norwegian stock exchange and its clearing & settlement subsidiary, together operating as Oslo Børs VPS, joined Euronext on 17 June 2019. With 1,300 listed issuers worth €3.5 trillion in market capitalisation as of end March 2019, Euronext is an unmatched blue chip franchise that has 24 issuers in the Morningstar® Eurozone 50 Index℠ and a strong diverse domestic and international client base. Euronext operates regulated and transparent equity and derivatives markets and is the largest centre for debt and funds listings in the world. Its total product offering includes Equities, FX, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. Euronext also leverages its expertise in running markets by providing technology and managed services to third parties. In addition to its main regulated market, Euronext also operates Euronext GrowthTM and Euronext AccessTM, simplifying access to listing for SMEs.

Disclaimer This press release is for information purposes only and is not a recommendation to engage in investment activities. This press release is provided “as is” without representation or warranty of any kind. While all reasonable care has been taken to ensure the accuracy of the content, Euronext does not guarantee its accuracy or completeness. Euronext will not be held liable for any loss or damages of any nature ensuing from using, trusting or acting on information provided. No information set out or referred to in this publication may be regarded as creating any right or obligation. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. All proprietary rights and interest in or connected with this publication shall vest in Euronext.

This press release speaks only as of this date. Euronext refers to Euronext N.V. and its affiliates. Information regarding trademarks and intellectual property rights of Euronext is located at www.euronext.com/terms-use.

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