In addition to listing on one of Euronext Lisbon's regulated markets, Portuguese companies traded continuously can thus opt to join the NextEconomy and NextPrime segments. SonaeCom, the first Portuguese applicant, will join NextEconomy today, bringing to 267 the number of companies included in one of the two segments.
NextEconomy (for technology stocks) and NextPrime (for more traditional sectors) were created in response to demand from both investors and listed companies. Investors want a steady flow of detailed financial information on listed companies, while small and mid-cap companies are keen to improve their visibility for investors.
Euronext counts nearly 1,000 small and medium-sized companies, making it the largest midcap stock exchange in the eurozone. A quarter of companies listed on Euronext Amsterdam, Brussels and Paris have opted to join either NextEconomy or NextPrime, depending on their business sector.
Background
To qualify for one of these two segments, companies must agree to bring their financial communications into line with special requirements, extending above and beyond existing obligations on their 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.
Appendix: List of companies in NextEconomy and NextPrime segments.
