Over its twenty-year history, the Second Marché has welcomed 689 listings representing the vast majority of companies making their market debut in Paris over the period. On 31 December 2002, it counted 325 companies, making it the largest market operated by Euronext Paris in terms of number of companies listed. Market capitalization totalled EUR 37.3 billion.
Altogether, companies listed on the Second Marché have raised EUR 13.5 billion, 54% through secondary issues. The market's success speaks for itself: even in the trying conditions seen recently, it has allowed SMEs to secure financing.
A steady flow of new companies have joined the market, while others have moved on. Figures show that 18% of Second Marché listings have moved on to the Premier Marché, with some becoming CAC40 component stocks. The Second Marché has also been a vector for consolidation within industries, with many transactions targeting companies listed on it.
Companies on the Second Marché represent a range of activities, many in traditional industries but some linked to information technology. Over the past eleven years, it has nearly matched trends in the CAC40 index, rising 89% compared to 94% for the index, despite transfers to the Premier Marché. Since 2000, Second Marché stocks have also proved more resilient than others to economic and market downturns. In 2002, the CAC40 index followed other major world stockmarket indices down, losing 33.7%, while the Second Marché index fell only 19.3%. Over the same period the median rise of the fifty best-performing stocks on the Second Marché stood at 30%, underscoring its continued appeal for investors.
Second Marché stocks are covered by four analysts each on average. Altogether 250 analysts track this fast-moving market, which has from the start proven its ability to help companies grow. In many ways it symbolizes the expertise in medium-sized stocks found in Paris, and has made the French market the leader in continental Europe in this segment.
