This is official : Euronext Tech Leaders stock market index it will be up and running next month. Announced in February 2022is this new financial market determined “Welcome and promote fast-growing companies in the technology sector”. Species “European Nasdaq”.
41 French companies join Euronext Tech Leaders
On Tuesday, June 7, 2022, Euronext announced the official launch of its new stock index: Euronext Tech Leaders. This new market will be a kind of European showcase, in which a hundred growing companies and listed unicorns will be grouped together. on one of the seven main European squares (Paris, Amsterdam, Brussels, Dublin, Lisbon, Milan and Oslo). All companies that will integrate Euronext Tech Leaders must be valued at more than 300 million euros.
Some are already talking about a new Nasdaq. This new technology index will combine 41 French companies. Together with Euronext Tech Leaders it weighs more than 1,000 billion euros in market capitalization (€258 billion for French companies). Here are the criteria for the integration of this new European index: to be a technology company, to show a capitalization of at least 300 million euros and to have experienced strong growth in the last three years (if you have not already exceeded a capitalization of one billion euros).
Bpifrance and Caisse des Dépôts release funds
Among the French companies that will integrate Euronext Tech Leaders, we can find in particular Dassault Systemes, Soitec, Believe, OVH, Ubisoft, but also lesser-known startups such as SES-Imagotag, Nacon or Esker. This new market was created in collaboration with BNP Paribas, Goldman Sachs, HSBC, JP Morgan, Société Générale, Caisse Des Dépôts, Bpifrance, La Mission French Tech, Amiral Gestion, Cliff, ABG Sundal Collier, Carnegie, Pareto Securities, SpasreBank Market1 and Crowds. The new stock index will be available from July 2022.
The ambition of Tech Leaders is according to Euronext “to support the listing of fast-growing European companies on the stock exchange, which very often have no other option than to increase fundraising or turn to the American stock market in order to finance themselves”. Bpifrance planned it release an envelope of 500 million euros participate in the IPO of national nuggets. There is real expectation on the part of French companies.
The same goes for the Caisse des Dépôts: a fund dedicated to technology leaders, endowed 300 million euros will be unlocked within the next few weeks. Over the years, this subsidy should increase. Depending on the financial institution, it will increase to 1.5 billion euros by 2027.