Listing on NPEX

Credit crisis and access to capital

For companies with growth and investment plans, the consequences of the financial crisis are unmistakeable. In the Netherlands, traditionally, these kinds of plans are financed by banks. However, banks are confronted with increasingly strict criteria for providing loans. Banks now have to maintain larger buffers and therefore require increasingly large amounts of collateral when lending money. This situation forces businesses to seek for alternatives. Multinationals have direct access to the capital market. Unfortunately, this is not the case for most SMEs in the Netherlands. For them, the traditional capital market is expensive and not focussed on their specific situation and needs.

Access to capital

NPEX provides you with ample possibilities. On the basis of NPEX standard documentation companies can attract capital from investors as from a minimal capital need of € 1,000,000. This capital can be obtained by issuing shares or bonds.

NPEX acts as coordinator in this process, coaching and supervising the company and its advisor. 
Businesses may decide themselves whether they issue the securities to:

  1. The public as large
  2. In their own “closed stock market environment”. In this case, specific interested investors only gain access to the information of the company and trade in the company’s securities on NPEX after the company has given its permission. 

NPEX has developed a model prospectus for shares and bonds to keep the costs for the issuing company as low as possible. This model prospectus meets the requirements of the Dutch Financial Supervision Act [Wet op het Financieel toezicht] and is easy to fill in. NPEX sets great store by quality and transparency. It is of the opinion that investors must be provided with clear information based on a prospectus regarding the risks of a company, also in those cases in which, based on a prospectus exemption, the Netherlands Authority for the Financial Markets [Autoriteit Financiële Markten (AFM)] refrains from giving an opinion.

A prospectus is exempt from approval by the AFM if one of the following situations occurs:

  1. The amount to be raised is less than € 2.5 million (on an annual basis) or
  2. A denomination is greater than € 100,000 or
  3. The securities are offered to less than 150 parties

The same procedure applies for investment funds whereby in addition to capital, NPEX can also provide full investment accounting records.