In 2014, EuropeanIssuers, Invest Europe and the Federation of European Securities Exchanges, agreed it was necessary to set up a European IPO Task Force which would include experts from across the EU with direct knowledge and experience of Initial Public Offerings. Its clear objective was to offer the European Commission and Parliament solutions to Europe's long-term IPO challenges.
The EU IPO Report: Rebuilding IPOs in Europe; Creating jobs and growth in European capital markets was published by the Task Force in March of this year which included the following recommendations:
- Create a more balanced and flexible regulatory environment for small and mid-cap quoted companies, also known as "Emerging Growth Companies";
- Ease constraints that restrict investors' access to IPO markets and to invest in venture capital / private equity;
- Improve the market ecosystem to better serve companies at different stage of growth and different types of investors;
- Create an equity culture in Europe, including education and non-legislative initiatives;
- Improve tax incentives for investment into IPOs and in equity more generally.
The Task Force will seek to meet again in the future to analyse the results of the CMU Action Plan and the Prospectus Review.
Philippe de Backer MEP, Chairman of the Task Force said: "I am proud of the work that has been carried out by the European IPO Task Force, the IPO Report is an essential read for policy makers working in this field. I also believe that this is the right moment for me to step down from my position as Chair of the Task Force to focus on the legislative agenda ahead."
Full press release
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