Euronext introduces the European Common Prospectus to accelerate capital market integration and boost IPO activity across the EU.
Introducing the European Common Prospectus
Euronext has launched the European Common Prospectus, a single, standardised template for equity issuances that enhances capital market integration and cross-border investment across Europe.
To permit long-term European competitiveness and innovation, improving access to European capital markets is essential. While the Listing Act, aimed at simplifying European listing rules, is not expected until June 2026, there is an immediate need to boost IPO activity in Europe. To meet this need, Euronext began to develop its new European Common Prospectus in November 2024, following the publication of the Listing Act.
Harmonisation and standardisation of prospectuses
As the backbone of the Capital Markets Union, Euronext has continuously simplified listing rules, with harmonised rulebooks to enable issuers to tap into our single liquidity pool powered by our single trading platform Optiq®. This new prospectus, designed for use across all Euronext countries, complies with existing EU regulation and offers immediate benefits to both issuers and investors.
The use of the European Common Prospectus is strongly encouraged for IPOs and other equity offerings across Euronext markets. It is already available and can be used immediately. It complements existing prospectus formats, such as the use of tripartite prospectuses, or the EU Growth Prospectus for SMEs and the Follow-on Prospectus, depending on the type of offering.
For issuers: an easy-to-use prospectus template
This streamlined template simplifies and harmonises the equity listing process across all seven Euronext markets—Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo and Paris—reducing complexity and preparation time for issuers by replacing the traditional 21-section structure with 11 sections. The prospectus uses English to enhance comparability and cross-border access to capital, ensuring greater consistency for investors across jurisdictions.
The template is designed to be flexible and adaptable, ensuring it meets current regulations while being ready to incorporate future changes under the Listing Act, expected to apply from June 2026.
For investors: consistency and comparability of information
The European Common Prospectus ensures greater consistency in how companies present their information, supporting better decision-making across jurisdictions. It offers much-needed consistency and comparability across EU jurisdictions. Whether the prospectus is for a listing in Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo or Paris, investors will now be able to assess offerings based on a shared structure and language – making it easier to evaluate opportunities and make informed investment decisions.
To ensure broad support and practical implementation, Euronext sought support from European stakeholders including ECM bankers, legal advisors, auditors, investors and issuers.
In summary, the European Common Prospectus brings clear benefits to:
The European capital markets:
- Enhances competitiveness
- Promotes cross-border investment
- Provides a consistent and comparable format
Issuers and investors:
- Easy-to-use template that reduces complexity
- Simplified drafting process (11 sections instead of 21)
- Better comparability
- English as the accepted language across jurisdictions
More about the European Common Prospectus
To learn more about the European Common Prospectus, read the full press release and:
download the European Common Prospectus template
Interested in listing on Euronext? Visit euronext.com/en/raise-capital