The NextEconomy NextPrime Event, which will now be held twice each year, is a key part of Euronext's enhanced service for companies in these two segments. Called Investor Network Services - INeS, the new service was launched with the support of ten Euronext financial intermediaries to promote closer ties between NextEconomy and NextPrime companies and specialised asset managers in Europe.
INeS operates as a platform linking over 600 European midcap asset managers investing in Euronext stocks with the 267 companies in the two segments and their broker partners. It allows an ongoing exchange of information among all parties - companies, brokers and asset managers - and in so doing lets NextEconomy and NextPrime companies make the most of their special commitment to financial communications. The service is also a prime vector for arranging meetings between companies and investors, particularly during the twice-yearly NextEconomy NextPrime Events.
Despite the uncertain economic environment, the April 23/24 event has aroused great interest: nearly 1,200 meetings have already been scheduled between over 200 European investors and 167 of the 267 Belgian, French and Dutch companies in the NextEconomy and NextPrime segments.
The event underscores Euronext's central role and commitment to serving listed midcap companies, investors and brokers. Today Euronext counts nearly 1,000 small and medium-sized companies, making it the largest midcap stock exchange in the eurozone. A quarter of these companies have opted to join the NextEconomy or NextPrime segments, depending on their business sector. And with Euronext, they are clearly poised to take advantage of opportunities arising as market integration in Europe gathers pace.
The NextEconomy and NextPrime segments were launched on 1 January 2002. Both NextEconomy (for 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 special requirements in addition to existing obligations on home markets. These include issuing updates on financial performance and holding information meetings at pre-set intervals; making all financial announcements available online on a corporate website; publishing information in English; publishing annual financial statements within three months of FYE starting with 2003 accounts; and from 2004 publishing quarterly reports and adopting IFRS for their first financial statements.
