Frequently Asked Questions - Listing process

Euronext listing process

Frequently asked questions about the process of listing on our Euronext markets

How can I list on Euronext, Euronext Growth and Euronext Access?

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

Admission to listing and trading upon completion of an Initial Public Offer (“IPO”) – The IPO is a public offering where new and/or existing shares of a private company are offered to retail and institutional investors. An IPO requires the publication of an approved prospectus.

Admission to listing and trading upon completion of a private placement – A private placement usually refers to non-public offering of shares in a private company. A placement of shares can be performed prior to the request for admission to listing of new securities if made in the preceding year. Within a private placement, shares are sold to a small number of eligible investors particularly qualified and institutional investors. Investors are usually large banks, mutual funds, insurance companies and pension funds. A listing following a private placement on the regulated market requires an approved prospectus while for a listing on Euronext Growth an Information Document meeting the requirements provided in the Euronext’s rules.

Direct listing, direct admission or technical admission to listing and trading –These listing routes imply an admission without the relevant issuer raising capital by conducting a public offer or a private placement of shares. .(see FAQ : What is a direct listing on Euronext? What is a direct admission on Euronext Growth? What is a technical admission on Euronext Access?)

When is a Listing Agent required?

The Listing Agent supports the issuer’s application to listing and trading on the regulated markets operated by Euronext. The Listing Agent is a legal entity appointed by the Issuer to assist and guide the Issuer in respect of a first admission to listing and trading of its securities on a Euronext regulated market. The Listing Agent must be authorised by Euronext and be accredited as a Market Member, unless exceptions apply.

What is the role of the Listing Agent?

The Listing Agent shall assist and guide the relevant Issuer in respect of the admission to listing of its Securities on Euronext regulated market. The tasks and responsibilities of a Listing Agent include (without limitation):

  • assisting the Issuer with the application for admission to listing of the relevant securities as set out in the Euronext rules;
  • ensuring that the documentation to be provided to Euronext in connection with the admission to listing is complete and accurate;
  • acting as primary contact and liaison for Euronext in relation to the admission to listing of the relevant
  • ensuring that adequate procedures are in place for the clearing and settlement of the relevant Securities.
Where can I find a Listing Agent?

As per Euronext notice n° 6-01 related to Euronext policy with respect to a Listing Agent, Listing Agent shall be a Market Member unless at the request of the Issuer, Euronext provides an exemption given the type of transaction involved (e.g. no capital raising or subsequent admission). A Market Member is an investment service provider who has been admitted to Euronext securities membership. More than 247 member firms are already connected to our markets. A list of accredited Market Members can be found on Euronext’s website: https://www.euronext.com/fr/membership/member-list

What is a Listing Sponsor?

A Listing Sponsor is a company acting as an investment services provider, audit firm, legal counsel or corporate finance specialist and playing the lead role in the listing process on Euronext Access, Euronext Access+ and Euronext Growth. Listing Sponsors must be accredited as such by Euronext.

Listing Sponsors ensure that companies meet all applicable criteria for listing on Euronext Access, Euronext Access+ and Euronext Growth.

Listing Sponsors ensure that companies fulfil their ongoing reporting and disclosure obligations while being traded on Euronext Access+ and Euronext Growth.

Why do I need to appoint a Listing Sponsor on Euronext Growth?

Euronext created the Listing Sponsor status to assist companies with the listing process and guide companies with respect to their ongoing reporting and disclosure requirements.

What is the role of the Listing Sponsor?

Prior to any listing, there is a certain amount of legal “housekeeping” and preparation to be undertaken to ensure that shares are suitable for listing, companies comply with relevant legal requirements, and current and future investor needs are met. The Listing Sponsor is a key player for companies and investors. The primary tasks of the Listing Sponsor are:

Advising the company during its preparation for listing, including in the preparation of the prospectus or information document and the coordination of the due diligence process;
Advising the listed company in respect of its ongoing and periodic disclosure obligations; and Liaising with the national financial supervisory authority and Euronext.

Where can I find a Listing Sponsor?

The list of accredited Listing Sponsors for each market location can be found on Euronext’s website: https://www.euronext.com/fr/listings/listing-sponsors

How to become a Listing Sponsor?

Any company (investment-services provider, audit firm, legal counsel or corporate finance specialist) wishing to become a Listing Sponsor shall submit electronically an application to the relevant Euronext Market Undertaking at the following e-mail address: admissions@euronext.com.

The list of documents to be submitted to the relevant Euronext Market Undertaking can be found in the Application Forms.

The Application Forms are available on our website in the section Listings/Forms and Applications.