SMEs about to get facilitated access to financing: a new prospectus exemption


A company wishing to raise less than EUR 5 million via a public offering or EUR 8 million on an unregulated market (e.g. Euronext Growth) will no longer have to produce a prospectus and have it approved by the FSMA. Instead, the company will draw up a much simpler document in the form of a 15-page information note. For the smallest companies, raising up to EUR 500,000 willnot require a single document.

This fresh approach should ensure the right balance between proportionate protection of investors and inexpensive and straightforward access to fundraising for SMEs.