Euronext is delisting six smaller companies from the Amsterdam stock exchange because they missed the deadline to appoint an accountant to check their annual accounts. With this measure, the stock exchange wants to “guarantee the reputation, stability, and quality of the Dutch capital market,” Rene van Vlerken, head of listings at Euronext Amsterdam, told the Financieele Dagblad.
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Photo: DutchNews.nl
The increase in regulation, high costs and low tradeability is making a listing on the Amsterdam stock exchange less attractive, a number of smallcap companies have told the Financieele Dagblad.
Sligro, Heijmans and Kendrion are among the stock exchange-listed firms which have expressed their concerns and at least eight companies are looking at alternative options, including a move to the small firm exchange NPEX, the FD said.
The paper bases its claims on a survey of 22 Dutch firms listed on either the ASc-X or local market in Amsterdam.
Euronext’s listings chief Rene van Vlerken told the paper the organisation shares small companies’ concerns. ‘If companies are no longer considered relevant to the providers of capital, then that is a problem for us,’ he said. Euronext, he said, is playing a ‘active role’ in finding solutions, in part by acting as a bridge between investors, brokers and banks.