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ExtraMOT PRO

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From February 11th, 2013 it’s started the new Professional Segment of ExtraMOT market dedicated to listing of bonds, commercial paper, project bond.

The new segment was born to offer to corporate and, in particular to SMEs, a national market flexible, and cost effective in which to take opportunities and tax benefits arising from the new regulatory framework (Decree-Law No. 83/2012).

The regulatory infrastructure of the new segment provides corporates with a first access to capital markets easily and efficient. The only listing requirements are publishing the annual financial statements for the past two years, the last of which audited and providing an admission document in Italian or in English with some essential information. It isn’t required a listing prospectus in accordance with the Prospectus Directive. After the admission to listing is required to publish audited financial statements, the disclosure of the rating if a public rating is assigned, the information concerning any changes in the bond holders’ rights, and any technical information related to the characteristics of the instruments (e.g. payment dates, interest coupons, sinking schedule).

The segment has the same structure of ExtraMOT, but trading is allowed only to professional investors. It is possible to have a specialist to support the liquidity of the instrument.

Starting from October 24th, 2016 Italian corporates can distribute bonds and commercial paper on the ExtraMOT PRO trading platform, before the issuance.

 

The new service is well suited for corporates that are already known by capital markets and it allows them:

- To have access to a wide network of brokers connected and interconnected to the market, enlarging their financial contacts by their arrangers also dealers for the issuance;  

- To accelerate the fund raising diversification process with one or more arrangers;

- To automatize the full issuance process, included the settlement phase because of the integration of ExtraMOT with the Italian and international settlement systems (Monte Titoli/Euroclear & Clearstream);

- To ensure at the time of the offer the fulfillment of requirements for admission to the subsequent listing, so as to have maximum continuity between "primary market" and "secondary market".

 

Download here the presentation with the details of the new service.

Last update:  October 28 2016 - 16:20

Why companies seek listing on ExtraMOT PRO?
  • COST-EFFECTIVE: ExtraMOT PRO is the fixed income MTF of Borsa Italiana, managed by a team of Italian professionals which allows corporates and in particular SMEs to benefit from the tax advantages of the new regulatory framework with low direct and indirect costs.
  • FLEXIBILITY: Borsa Italiana adopts a flexible and streamlined regulatory approach to allow SMEs to shape your own access to the market in a "tailor made" way.
  • VISIBILITY: Borsa Italiana is the ideal stage for corporates and SMEs to gain visibility among potential investors thanks to its International brand and the wide network of domestic and international intermediaries connected.

ExtraMOT PRO Presentation
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