This is official : the Euronext Tech Leaders stock market index will be operational next month. Announced in February 2022, this new financial market is intended to “Welcome and promote high-growth companies in the technology sector”. A kind of “European Nasdaq”.
41 French companies will join Euronext Tech Leaders
On Tuesday June 7, 2022, Euronext announced the official launch of its new stock market index: Euronext Tech Leaders. This new market will be a kind of European showcase, within which will be grouped a hundred growing companies and listed unicorns. in one of the seven major European squares (Paris, Amsterdam, Brussels, Dublin, Lisbon, Milan and Oslo). All companies that will integrate the Euronext Tech Leaders must be valued at more than 300 million euros.
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Some are already talking about a new Nasdaq. This new tech index will bring together 41 French companies. Together, the Euronext Tech Leaders companies weigh more than 1,000 billion euros in market capitalization (258 billion euros for French companies). Here are the criteria to integrate this new European index: be a technology company, display a capitalization of at least 300 million euros and record strong growth in the last three years (unless you have already exceeded one billion euros capitalization).
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Among the French companies that will integrate the Euronext Tech Leaders, we find in particular Dassault Systemes, Soitec, Believe, OVH, Ubisoft, but also lesser-known startups like SES-Imagotag, Nacon or Esker. This new market was created in partnership 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, SpareBank 1 Markets, and Davy. The new stock market index will be available from July 2022.
According to Euronext, the ambition of Tech Leaders is “to encourage the stock market listing of fast-growing European companies which, to finance themselves, very often have no other choice than to increase fundraising or turn to the American stock market”. Bpifrance has planned to release an envelope of 500 million euros to take part in the IPOs of national nuggets. There is a real expectation on the side of French companies.
The same goes for Caisse des Dépôts: a fund dedicated to Tech Leaders, endowed with 300 million euros will be unlocked in the next few weeks. Over the years, this endowment should increase. Depending on the financial institution, it will be increased to 1.5 billion euros by 2027.