Stats › Beursnoteringen, IPO's en corporate actions › Prospectus limits
Europe deleted its own prospectus exemption floor and replaced it with a default of 12 million euro, and capped a share prospectus at 300 sides of A4
| Threshold or limit | As enacted in 2017 | After the 2024 amendment | Provision |
|---|---|---|---|
| Total consideration below which the regulation does not apply | less than 1,000,000 euro over 12 months | Article 1(3) is deleted | Art 1(3) |
| Member state exemption, default | an option with a ceiling of 8,000,000 euro | 12,000,000 euro per issuer or offeror | Art 3(2)(b) |
| Member state exemption, lower national option | geen | 5,000,000 euro | Art 3(2a) |
| Credit institution non equity ceiling | not in this form | 150,000,000 euro over 12 months | Art 1 |
| Fungibility exemption | 20 per cent | 30 per cent over 12 months | Arts 1(4)(da), 1(5)(a) and 1(5)(b) |
| Summary length | a maximum of seven sides of A4 when printed | seven sides retained, plus one extra side per guarantor for the two new formats | Art 7(3) and new Art 7(12a) |
| Share prospectus length | no limit | a maximum of 300 sides of A4 when printed | new Art 6(4) |
| Follow on prospectus length | did not exist | 50 sides of A4 | Art 14a(5) |
| Growth issuance prospectus length | did not exist in this form | 75 sides of A4 | Art 15a(5) |
| Base prospectus, universal registration document, non equity prospectus | no limit | no limit | geen |
Regulation (EU) 2017/1129, which applied from 21 July 2018, and the amending Regulation (EU) 2024/2809. The 30 per cent fungibility figure already appears in the consolidated text dated 4 December 2024.
The one million euro figure in Article 1(3) is deleted outright. The member state option rises from eight million to a default of twelve, with a lower national option of five, and the fungibility exemption moves from twenty to thirty per cent.
Alleen voor leden
De rest van deze pagina is voor leden
Below this point there are 5 sections, 1 table and 7 named sources, roughly 600 words of it. Every figure carries the source it came from and the date the data is from.
Je kunt elke statistiek in de bibliotheek gratis blijven bekijken. De intro en de samenvatting zijn altijd open.