Large IPOs on fast track
Euronext has amended its rules, with the aim of allowing newly introduced large companies to be admitted more quickly.
“After adopting general rules on the treatment of initial public offerings in June 2002, the Euronext Indices Steering Committee has decided to approval an additional rule which will see to quicker admissions of newly introduced large companies to the Euronext 100 index,” the pan-European exchange said in a statement.
A newly listed stock could qualify for “fast entry” if it’s in the top 50 stocks on the market in terms of capitalisation. The rule will be applied to IPOs that occur after April 1 this year.