2026-04-02

SMEs and the Listing Act — what changes

European novelties for SME access to capital markets

01

Abstract

9-slide carousel on the main interventions of the EU Listing Act (Reg. 2024/2809 and Dir. 2024/2810) and the implications for Italian SMEs: simplified prospectus, exemption thresholds, dual-class shares, secondary-market liquidity regime, MAR deregulation.

02

Key takeaways

  • 01Prospectus exemption below €12 million over 12 months (national option: €5 million)
  • 02Dual-class shares now allowed in Italy
  • 03MAR lightened for SMEs
  • 04SME IPO window 2026–27
03

Slides

SMEs and the Listing Act — what changes — slide 1
01 / 09
SMEs and the Listing Act — what changes — slide 2
02 / 09
SMEs and the Listing Act — what changes — slide 3
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SMEs and the Listing Act — what changes — slide 4
04 / 09
SMEs and the Listing Act — what changes — slide 5
05 / 09
SMEs and the Listing Act — what changes — slide 6
06 / 09
SMEs and the Listing Act — what changes — slide 7
07 / 09
SMEs and the Listing Act — what changes — slide 8
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SMEs and the Listing Act — what changes — slide 9
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