Prospectus directive may hit smaller company IPOs

Thursday 5 December 2002 at 16:00

Smaller companies will be less likely to pursue initial public offerings due to the increased costs resulting from requirements in the EU's prospectus directive, according to a new survey.

The prospectus directive aims to establish rules for a European passport for both debt and equity issuers as part of efforts to create a single European market in financial services by 2005.