The listing process takes place following the marketing authorization by Consob (or any other European competent authority in the case of non-Italian AIFs).

The listing can be simultaneous to the fund raise process (IPO) or can occur at a later stage (Admission to Trading only), even without a offer of shares/fund units.

The admission process is composed by three main stages:

  1. For admission to listing, an Admission Application must be presented to Borsa Italiana pursuant to the Regulation of the Markets Organised and Managed by Borsa Italiana S.p.A.

  2. Since Euronext MIV Milan is a regulated market, the publication of a Prospectus approved by Consob is required. In case the issuer is based in another EU member state, the Prospectus must be approved by the home country’s competent Authority and ‘passported’ to Italy.

  3. Free float check and start of trading.



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