Euronext has arrange a brand new expertise section to assist the sector's main firms acquire extra visibility throughout the continent's asset managers and different traders.
The pan-European inventory trade stated on Tuesday that its prime progress and tech firm listings akin to ASML, Simply Eat Takeaway.com, Tom Tom and Ubisoft now type a brand new section, known as Euronext Tech Leaders, which may be tracked by a devoted new index from July.
They should have a minimal of €300 million euros in market capitalisation and a minimal progress fee to be included, with no efficiency standards for these with a market capitalisation of greater than €1 billion.
Euronext stated the brand new section will present advisory and communication companies "to boost the worldwide profile of listed European tech firms".
It would additionally supply pre-listing companies and government coaching to assist promising, privately-held firms float on the inventory market.
A European Nasdaq?
Europe has lengthy sought to foster 'homegrown' tech giants to compete with Nasdaq, which is often the favoured trade for international tech listings.
"We don't compete with Nasdaq," Stephane Boujnah, Euronext's chief government, instructed reporters. "What we are attempting to develop here's a basically totally different method".
The purpose is to defragment tech listings that are unfold throughout nationwide markets to present them a European profile and supply a sector-wide view to traders, Boujnah stated.
Neuer Markt, a particular tech section on Deutsche Boerse in Frankfurt was arrange in 1997 as Europe's reply to Nasdaq, but it surely collapsed simply 5 years later because the dotcom bubble burst.
Makes an attempt by the European Union to deepen its capital market intensified after Britain left the bloc and commenced to draw extra listings to London and compete with the Amsterdam trade run by Euronext.
Euronext, which runs the inventory markets of Paris and Amsterdam amongst others stated, it has over 700 listed tech firms with a complete market capitalisation of greater than €1 trillion.
Of the entire 212 new fairness listings final yr, greater than half got here from the tech sector, it stated.
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