Listing Sponsor

Avenir Finance Corporate is accredited by Euronext as Listing Sponsor since 2005. Mission at the time of the IPO As accredited Listing Sponsor, Avenir Finance Corporate sets up a whole program of due diligences making sure that the applicant for the IPO complies with the listing rules. After completion of this checking routine, the Listing-Sponsor provides Euronext with a written certificate confirming: to have provided the Issuer with all the information about legal and regulatory requirements, to have presented a full admission file of the Issuer, to have made sure that the Issuer fills or has reasonable chances to reach the standards of capital necessary for the admission. For this purpose, the Listing Sponsor must in particular communicate, to Euronext Paris, the identity and approvals of the establishments in charge of (stocks) placement, to have prepared the information document (either a prospectus approved by the regulator or an offering circular prepared under the joint responsibility of the sponsor and the company) for distribution to the potential investors allowing them to appreciate the financial standing and the general prospects of the Issuer. In the absence of a leaflet agreed by the proper Authority, the Listing-Sponsor attests, that this document does not contain any inaccuracy, nor any significant omission, to have ensured means implemented by the Issuer in order to respect its periodic and permanent obligations.

Mission of follow-up after an IPO

Throughout its listing on the stock exchange, each Alternext-admitted company has a Listing-Sponsor, the latter acting as Euronext's main point of contact for the Issuers.

The mission of the Listing-Sponsor consists in making sure that the Issuer satisfies his periodic obligations of information and proceeds in time to the ad hoc communications to which he is bound, whether it be legal obligations or regulations specific to Alternext.

Taking advantage of the publication of the periodic reports, the Listing Sponsor proceeds to an assessment of the financial communication distributed over the past period.

Whenever a company fails to meet its disclosure requirements, the Listing Sponsor must bring him back to his obligations and give him the necessary advice to solve the problems. The Listing Sponsor must also formalise his advisory action in order to make it available for Euronext for at least two years.