Euronext Growth

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The well established pan-European Euronext Growth market offers an alternative route for small- and mid-sized companies (SMEs) that may lack the necessary resources needed to satisfy the requirements of a regulated market, to join a reliable and profitable exchange.

EnterNext

Euronext subsidiary dedicated to supporting the growth of Small and Mid Caps across Europe.  www.enternext.biz

Listing Fees

To issue initial public shares and maintain a listing on Euronext’s regulated markets, a company is accountable for several types of fees.  Listing Fees

Euronext Growth offers a market access with fewer obligations intended primarily for small- and mid-cap companies making them available to a wide range of investors. The market is not a regulated market within the meaning of E.U. directives. It is a multilateral trading facility (MTF) operated under the commercial name “Euronext Growth” by the relevant market operator in Brussels, Lisbon and Paris. Companies looking to be listed on Euronext Growth have to choose a listing sponsor to assist them during the admissions procedure The company listed on Euronext Growth shall have a listing sponsor on a permanent basis after the admission.

Euronext Growth is based on the same pan-European trading platform as the Euronext main cash market, enhancing liquidity. For smaller companies, Euronext can also assign brokers who act as liquidity providers to ensure sufficient liquidity for investors. The Euronext Growth All-Share Index improves investors' ability to benchmark Euronext Growth-listed companies, which also helps to promote trading.

Euronext Growth-listed companies benefit from a market with less stringent listing requirements and innovative operating rules, guaranteeing protection and transparency for investors. Euronext Growth is structured and operated in a centralized trading environment for all listed companies, enhancing financial transparency. It also provides exit opportunities for private equity and venture capital investors.  

Listing Process

The Euronext Growth listing process is nearly similar to that of the Euronext European Regulated Markets but can be quicker and more straightforward. Shares may be offered for sale to institutional investors, qualified investors and retail investors, or to certain classes of such investors, such as management, employees, 'friends and family' and customers.

There are three ways to be admitted to listing and trading on Euronext Growth:

  • A public offer – The traditional IPO, raising capital at the time of the listing with the publication of a prospectus. Retail investors may participate.
  • A private placement – A placement of shares prior to the request for admission to listing of new securities of at least €2.5 million made in the preceding year. The issuer is required to publish an information document. For institutional investors and qualified investors only.
  • A direct listing – Admission to trading for issuers already admitted to trading on an eligible market, with no capital raised. The issuer is required to publish an information document.

The listing sponsor chosen to advise a company on its listing will need to consider whether the company meets all applicable criteria for listing. It will do this in consultation with the company and its legal advisers and auditors. The issuer shall have a listing sponsor on a permanent basis after the admission.

The listing sponsor is usually an investment bank, but can also be an advisory firm, such as an accountant or corporate finance boutique, which will work alongside an investment bank for the capital raising (if any).

Prior to any listing, there will be a certain amount of legal ‘housekeeping' and preparation to be undertaken in order to ensure suitability for listing, compliance by the company with relevant legal requirements and that existing and future investor needs are met. Our team is available to answer any question you may have.