Euronext Launches Single & Standardised English European Common Prospectus with 11 Sections Only (Previous 21 Sections) for Companies IPO Equity Issuances in 7 Europe Stock Exchanges to Reduce Regulatory Fragmentation, Enhance Transparency & Promote Cross-Border Investment Across Europe, Full Implementation by 2026 June, 7 Stock Exchanges are in Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo & Paris
26th April 2025 | Hong Kong
Euronext has announced the launch of a single & standardised English European Common Prospectus with 11 sections only (Previous 21 sections) for companies IPO equity issuances in 7 Europe stock exchanges to reduce regulatory fragmentation, enhance transparency & promote cross-border investment across Europe, with full implementation by 2026 June. The 7 Euronext stock exchanges are in Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo & Paris. Euronext (25/4/25): “Euronext today announced the launch of the European Common Prospectus, a single, standardised template for equity issuances that marks a pivotal step towards deeper integration of European capital markets. This landmark initiative demonstrates Euronext’s long-standing commitment to reduce regulatory fragmentation, enhance transparency and promote cross-border investment across Europe. To enhance European long-term competitiveness and innovation, it is essential to improve access to European capital markets. The full implementation of the Listing Act to simplify European rules for listing is not expected until June 2026. In the meantime, there is a clear and immediate need to boost IPO activity in Europe and to compete on a global level. To meet this need, Euronext began to develop a new European Common Prospectus in November 2024, following the publication of the Listing Act. As the backbone of the Savings and Investments Union, Euronext has continuously simplified listing rules, with harmonised rulebooks to enable issuers to tap into our single liquidity pool powered by our single trading platform Optiq®. This new prospectus, designed for use across all Euronext countries, complies with existing EU regulation and offers immediate benefits to both issuers and investors. To ensure broad support and practical implementation, Euronext sought support from European stakeholders including European capital market bankers, legal advisers, auditors, investors and issuers. The European Common Prospectus brings a long-awaited harmonisation of how companies present themselves to the market. Issuers will benefit from a streamlined, easy-to-use template that significantly reduces complexity. Although the template will have to be submitted through the normal regulatory approval process, the new common prospectus replaces the 21 sections previously required with a simpler 11-section format, and makes the preparation of a listing prospectus faster and more efficient. The use of English as the preferred language simplifies the drafting process and supports cross-border access to capital. For investors, the prospectus offers much-needed consistency and comparability across EU jurisdictions. Whether the prospectus is for a listing in Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo or Paris, investors will now be able to assess offerings based on a shared structure and language. This will simplify the evaluation of opportunities and enable investors to make informed investment decisions. The goal is to create a clear, accessible and investor-friendly prospectus that facilitates capital raising across EU borders … … The new prospectus has been shared with the Euronext College of Regulators and is available for immediate use in all Euronext countries. The template is designed to be flexible and adaptable, ensuring it meets current regulations while being ready to incorporate future changes under the Listing Act, expected to apply from June 2026. While it is optional in nature and issuers can opt to use other templates provided for in the Prospectus Regulation, Euronext strongly encourages issuers to adopt this new format to take full advantage of its benefits. Other formats – such as the EU Growth Prospectus and the Follow-on Prospectus – will continue to apply where appropriate.” View European Common Prospectus
“ Euronext Launches Single & Standardised English European Common Prospectus with 11 Sections Only (Previous 21 Sections) for Companies IPO Equity Issuances in 7 Europe Stock Exchanges to Reduce Regulatory Fragmentation, Enhance Transparency & Promote Cross-Border Investment Across Europe, Full Implementation by 2026 June, 7 Stock Exchanges are in Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo & Paris “
Stéphane Boujnah, CEO and Chairman of the Managing Board of Euronext, said: “Europe cannot afford to wait. Action is required at the level of European policy-makers and regulators. But bottom-up initiatives driven by industry can deliver fast European integration milestones. This European Common Prospectus is not only about regulatory alignment; it is also about competitiveness. As global markets evolve rapidly, Europe must ensure its companies have efficient tools to access capital. By acting now, Euronext is offering a practical path forward to simplify access to capital, enhance investor confidence, and boost IPO activity across the continent. The European Common Prospectus mirrors global best practices, and positions European markets as more accessible and attractive to both issuers and international investors.”
Charles-Henry Gaultier, Managing Director at Lazard, said: “This new European Common Prospectus template simplifies access to public markets for companies with European ambitions, facilitating cross-border investor participation. Following the Listing Act, it is a practical step to boost IPO activity in Europe, underscoring the vital role of capital markets in driving economic growth and innovation.”
Tim Stevens, Partner at A&O Shearman, said: “This is a major step in the right direction. A simplified and more streamlined prospectus process will make it easier for companies to access capital markets efficiently, attract investment, and fuel growth across Europe.”
Camilla Iversen, Partner at Advokatfirmaet BAHR, said: ”We welcome this initiative as a valuable addition towards a deeper integration between Norwegian and other European capital markets. This new template structure for IPO prospectuses is a good supplement to support equity issuers in Norway. It offers a helpful reference point to enhance consistency and accessibility across the EEA.”
Sigrid Ververken, Counsel, Advocaat at Freshfields, said: ”By trying to simplify the listing process while ensuring compliance with EU regulations, the European Common Prospectus aims to play a crucial role in boosting IPO activity and maintaining Europe’s competitive edge in the global market. We are therefore proud to contribute to the development of this initiative.”
Euronext – Euronext is the leading European capital market infrastructure, covering the entire capital markets value chain, from listing, trading, clearing, settlement and custody, to solutions for issuers and investors. Euronext runs MTS, one of Europe’s leading electronic fixed income trading markets, and Nord Pool, the European power market. Euronext also provides clearing and settlement services through Euronext Clearing and its Euronext Securities CSDs in Denmark, Italy, Norway, and Portugal. As of March 2025, Euronext’s regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway, and Portugal host nearly 1,800 listed issuers with around €6.3 trillion in market capitalisation, a strong blue-chip franchise and the largest global centre for debt and fund listings. With a diverse domestic and international client base, Euronext handles 25% of European lit equity trading. Its products include equities, FX, ETFs, bonds, derivatives, commodities and indices.
Euronext Launches Single & Standardised English European Common Prospectus with 11 Sections Only (Previous 21 Sections) for Companies IPO Equity Issuances in 7 Europe Stock Exchanges to Reduce Regulatory Fragmentation, Enhance Transparency & Promote Cross-Border Investment Across Europe, Full Implementation by 2026 June, 7 Stock Exchanges are in Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo & Paris
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