ESMA_QA_988
12/07/2019
Subject Matter
Home Member State - Nearly equivalence of Euro 1,000 (Article 2(m)(ii) of the Prospectus Regulation)
Original question
When determining the home Competent Authority, the figure of EUR 1,000 is a key element. ESMA discussed how the second sentence of Article 2(m)(ii) of the Prospectus Regulation, in particular the part which states "nearly equivalent to EUR 1,000", is applied in practice to cases where the securities are denominated in a currency other than euro?
ESMA Answer
12-07-2019
Original language
[ESMA31-62-1258 Prospectuses Q&A 6.1]
The decision regarding which Competent Authority should approve the prospectus on the basis of the denomination of the non-equity securities according to Article 2(m)(ii) of the Prospectus Regulation should be made at the time of the submission of the draft prospectus. At that time, “nearly equivalent” doesn’t mean exactly EUR 1,000.
Status: Answer Published
Additional Information
Level 1 Regulation
Prospectus Regulation 2017/1129
Topic
Public offer