SMEs and the Listing Act — what changes

European novelties for SME access to capital markets

2026-04-02 — Alessandro Negri della Torre

9-slide carousel on the main interventions of the EU Listing Act (Reg. 2024/2809 and Dir. 2024/2810) and the implications for Italian SMEs: simplified prospectus, exemption thresholds, dual-class shares, secondary-market liquidity regime, MAR deregulation.

Key takeaways

• Simplified prospectus below €12M thresholds
• Dual-class shares now allowed in Italy
• MAR lightened for SMEs
• SME IPO window 2026–27