This new status is designed to stimulate and promote analysis of SMEs and will be launched on 21 February 2005 for stocks listed on Euronext Paris. It will be extended to small and midcaps on the Amsterdam, Brussels and Lisbon markets in the second quarter of 2005, adjusted to reflect features specific to each market.
1 Special status for midcap experts on Euronext Paris
In the initial phase, a pool of ten intermediaries will be designated as experts for Euronext Paris midcap stocks, defined as having capitalisations of less than EUR 1 billion. These intermediaries are Arkeon Finance, Aurel Leven Securities, Crédit Agricole Cheuvreux, CM-CIC Securities, Euroland Finance1, Société de Bourse Gilbert Dupont, Ixis Midcaps, Oddo & Cie, Portzamparc Société de Bourse et Banque Privée Fideuram Wargny. Others may be added to this list; applications for midcap expert status will be accepted until 31 March 2005.
As midcap experts, they will be required to offer a research and sales team specializing in midcaps. They must also undertake to issue regular reports and promote 60 midcaps, including 20 with capitalisations under EUR 150 million and 10 with fewer than 2,500 trades a year. Finally, they commit to publishing an annual review, half-yearly reviews, and special updates for major events affecting each stock covered.
Thus half of companies listed on Euronext Paris with a market capitalisation under EUR 1 billion and nearly three-quarters of those with capitalisations between EUR 150 million and EUR 1 billion will be tracked by at least one intermediary. Some forty per cent of those with capitalisations of under EUR 150 million and one-third with fewer than 2,500 trades a year will also be covered.
To raise the visibility of these midcap experts and highlight their commitment, Euronext will sponsor a marketing program and provide support for promotional campaigns.
1Subject to operational membership of and officialization from Euronext.
Click here for further details.
