Altogether 172 of the 262 French, Belgian and Dutch companies in the NextEconomy and NextPrime segments will be on hand -- two-thirds of the total -- along with 300 investment professionals representing over 160 institutions from Euronext domestic markets. Professionals from 10 other countries in Europe and the United States will also attend. Over 1,100 one-to-one meetings (an average of seven meetings per listed company) have already been scheduled with the help of 12 financial intermediaries1. These will give participating companies a prime opportunity to present their activities to fund managers and analysts. In nearly half of these meetings, companies will be presenting to investors they do not know; likewise, half are with investors from countries other than the company's domestic market.
The NextEconomy and NextPrime segments were created on 2 January 2002 to meet investor demand for a steady flow of in-depth information on listed companies but also in response to interest expressed by listed companies, particularly midsize firms, in raising their visibility with investors, especially international investors. The market segment concept, with its guarantee of additional financial information and the use of accounting standards that facilitate comparison of financial statements and thus greater transparency, is in keeping with current market requirements.
Two hundred and sixty-two companies have now joined NextEconomy and NextPrime, a 30% rise since these segments were launched. Together they represent one-quarter of the total number of French, Belgian and Dutch companies listed on regulated markets operated by Euronext Paris, Brussels and Amsterdam.
Both NextEconomy (technology stocks) and NextPrime (for more traditional businesses) are open to companies traded continuously on regulated markets operated by Euronext. To qualify, companies must agree to bring their financial communications into line with specific rules, in addition to existing local obligations. Rules include issuing updates on financial performance and information meetings at pre-set intervals; making all financial announcements available online on the company website; using English in publications for the financial community; publishing their annual report within three months of FYE starting in 2003; adopting IAS/IFRS for their financial statements from 2004 (subject to European rules concerning first adoption); and publishing quarterly reports.
1ABN Amro, CLS European Mid Cap, European Securities Network represented by Banque Degroof, CIC Securities, Van Lanschot, Fortis Bank, ING Financial Markets (Paris, Brussels, Amsterdam), Portzamparc Société de Bourse, SNS Securities and Société de Bourse Gilbert Dupont
