Listing on a stock exchange is an important step for companies that wish to compete in increasingly complex environment that require strategic vision, robust business plans and financial capital to achieve them.
It is important to carefully assess all aspects of listing and the implications the status of listed company involves for the management of the company
Who determines the value of my company?
The value of the company is defined by the market. The Advisers that guide the company through the listing process are responsible for matching the entrepreneur’s valuation expectations and the investors’ analysis.
Who are the investors buying my company's stock?
The shares offered for sale may be purchased by Institutional, Professional and Retail Investors.
What disclosure requirements do I have to fulfil once I am listed?
The disclosure requirements after listing include: Periodic Accounting Information, Price Sensitive and Extraordinary Transaction Information and Technical Information.
Who are the external parties \ Advisers involved?
Various external parties are involved to ensure a successful listing: Listing Agent (only on Euronext Milan), Euronext Growth Advisor (only on Euronext Growth Milan), Global Coordinator (placement banks), Auditing firm, Legal and Financial advisers, Communication and Investor Relations companies.
Is the Euronext Milan market suitable for companies of all sizes?
The only formal requirement in terms of size on the Euronext Milan market refers to market capitalization, which must be greater than or equal to € 40 million. The Euronext Milan market is designed for medium and large companies in any industry.
What drives a company to adopt more stringent requirements, such as those required on the Euronext STAR Milan segment?
The Euronext STAR Milan segment has always been associated with excellence in terms of liquidity, transparency and good governance. Companies that voluntarily decide to comply with more stringent requirements than other companies listed on the Euronext Milan benefit from greater visibility provided by Borsa Italiana and greater recognition by investors, especially international ones, compared to other listed companies of comparable size.
What are the corporate governance requirements on Euronext Growth Milan?
Issuers must adopt and maintain "appropriate" corporate governance rules that meet the objectives of management efficiency and investor protection.
Why choose Milan compared to other stock exchanges?
Listing on Borsa Italiana markets offers the benefit of high liquidity, thanks to a higher turnover velocity compared to other stock exchanges, as well as access to an important pool of international investors. The advisory and analyst community is varied and diversified, ensuring wide coverage of listed companies. Furthermore, the proximity and direct coordination with listing authorities and post-listing supervision facilitate the listing process and the life as a listed company.
Can newly listed companies be included in Borsa Italiana indices?
With the exception of the Euronext STAR Milan and Euronext Growth Milan companies, which are directly included in the reference baskets as of their first day of listing, other newly listed shares can be selected for inclusion in Borsa Italiana indices as of the first quarterly review after listing. However, newly listed companies of very large size (i.e. with capitalization greater than or equal to 3% of the capitalization of the FTSE Italia all Share index) are an exception and are subject to an ad hoc procedure.
Learn more through a meeting with Borsa Italiana
The Primary Markets team of Borsa Italiana is available to meet with entrepreneurs interested in the listing process and with their advisers in order to explore the company’s growth prospects and assess how Borsa Italiana can support them.
Test yourself with the Pre-Listing Assessment
Borsa Italiana offers companies that are considering to go public the opportunity to take an assessment and further explore the following topics: listing process, most suitable market, equity story, business plan, management control system, corporate governance and others.
To find out more, contact Borsa Italiana: email@example.com