Regulatory Alerts2025-04-17
Decision No. 2025-PDG-0028: Coordinated General Decision 45-930 Regarding the Prospectus Exemption for New Reporting Issuers
The Autorité des marchés financiers issues Decision No. 2025-PDG-0028 to establish a prospectus exemption facilitating capital raising for new reporting issuers who have completed their initial public offering. The decision outlines strict eligibility criteria, including market capitalization limits, trading history requirements, and prohibitions on certain uses of proceeds, while mandating the publication of a detailed offering document and press release. It further grants subscribers specific contractual rights to rescind or claim damages in cases of misrepresentation and requires the filing of a trade report within ten days of closing.
Share