EuropeanIssuers welcomes the publication of the draft Prospectus Regulation, aimed at making it easier for companies to access public capital markets.
Florence Bindelle, Secretary General of EuropeanIssuers, said: “This revision is a step in the right direction.  It will help to alleviate some burdens and costs for companies seeking to raise finance on public markets in Europe. Producing a prospectus is a big cost of and a clear deterrent to going public. We welcome proposals to reduce disclosure for secondary offers and SMEs, as well as allowing greater use of the incorporation of information into a prospectus by reference. We also welcome improved passporting arrangements to make it simpler for issuers to access markets across the EU.”

Ms. Bindelle added, “Nevertheless, we think that the Commission can be more ambitious in its proposals. The needs of the Emerging Growth Companies have not yet been properly addressed. A funding gap could well remain for those “middle range” companies that are not classified as SMEs, but at the same time do not have the necessary resources to meet the stringent requirements of the Regulated Markets.”

EuropeanIssuers, which includes AEM – the Portuguese Issuers as a member, represents the interests of quoted companies across Europe.

EuropeanIssuers’ press release, here:

The Commission’s legislative proposal for the Prospectus Regulation, here: