{"id":3022,"date":"2022-08-21T21:59:13","date_gmt":"2022-08-21T21:59:13","guid":{"rendered":"https:\/\/www.guiadoemitente.pt\/?p=3022"},"modified":"2022-09-16T10:31:32","modified_gmt":"2022-09-16T10:31:32","slug":"3-1-2-simplified-scope-ipo-process-ipo-without-prospectus","status":"publish","type":"post","link":"https:\/\/www.guiadoemitente.pt\/en\/3-1-2-simplified-scope-ipo-process-ipo-without-prospectus\/","title":{"rendered":"3.1.2. Simplified Scope IPO Process (IPO without Prospectus)"},"content":{"rendered":"\n<p>This Section was prepared to show potential Issuers that an IPO &#8211; with a Public Offering covered by one of the exemptions from preparing and disclosing a Prospectus or with a Private Placement \u2013 followed by and admission to trading on an MTF &#8211; can be, comparatively, a simple process and potentially requires less changes in the Company.<\/p>\n\n\n\n<p><\/p>\n\n\n<style>#kt-layout-id_ff1712-55 > .kt-row-column-wrap{align-content:start;}:where(#kt-layout-id_ff1712-55 > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}#kt-layout-id_ff1712-55 > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-md, 2rem);max-width:640px;padding-top:var( --global-kb-row-default-top, 25px );padding-bottom:var( --global-kb-row-default-bottom, 25px );padding-top:0px;padding-bottom:108px;grid-template-columns:repeat(2, minmax(0, 1fr));}#kt-layout-id_ff1712-55 > .kt-row-layout-overlay{opacity:1;mix-blend-mode:multiply;}@media all and (max-width: 1024px){#kt-layout-id_ff1712-55 > .kt-row-column-wrap{grid-template-columns:repeat(2, minmax(0, 1fr));}}@media all and (max-width: 767px){#kt-layout-id_ff1712-55 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style>\n<div class=\"wp-block-kadence-rowlayout alignnone\"><div id=\"kt-layout-id_ff1712-55\" class=\"kt-row-layout-inner kt-layout-id_ff1712-55\"><div class=\"kt-row-column-wrap kt-has-2-columns kt-gutter-default kt-v-gutter-default kt-row-valign-top kt-row-layout-equal kt-tab-layout-inherit kt-m-colapse-left-to-right kt-mobile-layout-row kb-theme-content-width\"><style>.kadence-column_8dcff1-00 > .kt-inside-inner-col{border-top-width:0px;border-right-width:0px;border-bottom-width:0px;border-left-width:0px;}.kadence-column_8dcff1-00 > .kt-inside-inner-col,.kadence-column_8dcff1-00 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column_8dcff1-00 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column_8dcff1-00 > .kt-inside-inner-col{flex-direction:column;}.kadence-column_8dcff1-00 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column_8dcff1-00 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column_8dcff1-00{position:relative;}@media all and (max-width: 1024px){.kadence-column_8dcff1-00 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column_8dcff1-00 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column inner-column-1 kadence-column_8dcff1-00\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading_7402de-b2, .wp-block-kadence-advancedheading.kt-adv-heading_7402de-b2[data-kb-block=\"kb-adv-heading_7402de-b2\"]{font-size:18px;line-height:22px;font-style:normal;font-family:\"Lucida Sans Unicode\", \"Lucida Grande\", sans-serif;}.wp-block-kadence-advancedheading.kt-adv-heading_7402de-b2 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading_7402de-b2[data-kb-block=\"kb-adv-heading_7402de-b2\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}.wp-block-kadence-advancedheading.kt-adv-heading_7402de-b2 img.kb-inline-image, .wp-block-kadence-advancedheading.kt-adv-heading_7402de-b2[data-kb-block=\"kb-adv-heading_7402de-b2\"] img.kb-inline-image{width:150px;vertical-align:baseline;}<\/style>\n<h2 class=\"kt-adv-heading_7402de-b2 wp-block-kadence-advancedheading has-azul-2-color has-text-color\" data-kb-block=\"kb-adv-heading_7402de-b2\">The IPO process is developed in 3 phases, the Planning, the Preparation and The Offering and Placement phases, previous to the IPO and Listing on an MTF.<\/h2>\n<\/div><\/div>\n\n\n<style>.kadence-column_81dd11-3f > .kt-inside-inner-col{border-top-width:0px;border-right-width:0px;border-bottom-width:0px;border-left-width:0px;}.kadence-column_81dd11-3f > .kt-inside-inner-col,.kadence-column_81dd11-3f > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column_81dd11-3f > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column_81dd11-3f > .kt-inside-inner-col{flex-direction:column;}.kadence-column_81dd11-3f > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column_81dd11-3f > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column_81dd11-3f{position:relative;}@media all and (max-width: 1024px){.kadence-column_81dd11-3f > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column_81dd11-3f > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column inner-column-2 kadence-column_81dd11-3f\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-spacer.kt-block-spacer-_655ea8-5d .kt-block-spacer{height:71px;}.wp-block-kadence-spacer.kt-block-spacer-_655ea8-5d .kt-divider{border-top-width:1px;height:1px;border-top-color:#eee;width:80%;border-top-style:solid;}<\/style>\n<div class=\"wp-block-kadence-spacer aligncenter kt-block-spacer-_655ea8-5d\"><div class=\"kt-block-spacer kt-block-spacer-halign-center\"><\/div><\/div>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading_4634d7-85, .wp-block-kadence-advancedheading.kt-adv-heading_4634d7-85[data-kb-block=\"kb-adv-heading_4634d7-85\"]{text-align:right;font-style:normal;}.wp-block-kadence-advancedheading.kt-adv-heading_4634d7-85 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading_4634d7-85[data-kb-block=\"kb-adv-heading_4634d7-85\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}.wp-block-kadence-advancedheading.kt-adv-heading_4634d7-85 img.kb-inline-image, .wp-block-kadence-advancedheading.kt-adv-heading_4634d7-85[data-kb-block=\"kb-adv-heading_4634d7-85\"] img.kb-inline-image{width:150px;vertical-align:baseline;}<\/style>\n<p class=\"kt-adv-heading_4634d7-85 wp-block-kadence-advancedheading has-amarelo-2-color has-text-color\" data-kb-block=\"kb-adv-heading_4634d7-85\"><strong>IPO &amp; Listing<\/strong><\/p>\n<\/div><\/div>\n<\/div><\/div><\/div>\n\n\n<style>#kt-layout-id_72eddb-a3{margin-top:-75px;}#kt-layout-id_72eddb-a3 > .kt-row-column-wrap{align-content:start;}:where(#kt-layout-id_72eddb-a3 > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}#kt-layout-id_72eddb-a3 > .kt-row-column-wrap{column-gap:40px;row-gap:var(--global-kb-gap-md, 2rem);max-width:750px;margin-left:auto;margin-right:auto;padding-top:var( --global-kb-row-default-top, 25px );padding-bottom:var( --global-kb-row-default-bottom, 25px );padding-top:0px;padding-bottom:10px;}#kt-layout-id_72eddb-a3 > .kt-row-column-wrap > div:not(.added-for-specificity){grid-column:initial;}#kt-layout-id_72eddb-a3 > .kt-row-column-wrap{grid-template-columns:repeat(3, minmax(0, 1fr));}#kt-layout-id_72eddb-a3 > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){#kt-layout-id_72eddb-a3 > .kt-row-column-wrap > div:not(.added-for-specificity){grid-column:initial;}}@media all and (max-width: 1024px){#kt-layout-id_72eddb-a3 > .kt-row-column-wrap{grid-template-columns:repeat(3, minmax(0, 1fr));}}@media all and (max-width: 767px){#kt-layout-id_72eddb-a3 > .kt-row-column-wrap > div:not(.added-for-specificity){grid-column:initial;}#kt-layout-id_72eddb-a3 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style>\n<div class=\"wp-block-kadence-rowlayout alignnone\"><div id=\"kt-layout-id_72eddb-a3\" class=\"kt-row-layout-inner kt-layout-id_72eddb-a3\"><div class=\"kt-row-column-wrap kt-has-3-columns kt-gutter-wide kt-v-gutter-default kt-row-valign-top kt-row-layout-equal kt-tab-layout-inherit kt-m-colapse-left-to-right kt-mobile-layout-row\"><style>.kadence-column_84cb9a-27 > .kt-inside-inner-col{padding-top:10px;padding-bottom:20px;}.kadence-column_84cb9a-27 > .kt-inside-inner-col{min-height:0px;border-color:#10154B;border-top-width:1px;border-right-width:1px;border-bottom-width:1px;border-left-width:1px;}.kadence-column_84cb9a-27 > .kt-inside-inner-col,.kadence-column_84cb9a-27 > .kt-inside-inner-col:before{border-top-left-radius:10px;border-top-right-radius:10px;border-bottom-right-radius:10px;border-bottom-left-radius:10px;}.kadence-column_84cb9a-27:hover > .kt-inside-inner-col{border-color:#FFF;border-top-width:1px;border-right-width:1px;border-bottom-width:1px;border-left-width:1px;}.kadence-column_84cb9a-27 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column_84cb9a-27 > .kt-inside-inner-col{flex-direction:column;}.kadence-column_84cb9a-27 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column_84cb9a-27 > .kt-inside-inner-col{background-color:rgba(16, 21, 75, 0.2);}.kadence-column_84cb9a-27 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column_84cb9a-27{position:relative;}@media all and (max-width: 1024px){.kadence-column_84cb9a-27 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column_84cb9a-27 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column inner-column-1 kadence-column_84cb9a-27 kb-section-has-link\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading_515ff5-29, .wp-block-kadence-advancedheading.kt-adv-heading_515ff5-29[data-kb-block=\"kb-adv-heading_515ff5-29\"]{margin-top:0px;padding-top:0px;text-align:center;font-size:16px;line-height:29px;font-style:normal;letter-spacing:0.5px;}.wp-block-kadence-advancedheading.kt-adv-heading_515ff5-29 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading_515ff5-29[data-kb-block=\"kb-adv-heading_515ff5-29\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}.wp-block-kadence-advancedheading.kt-adv-heading_515ff5-29 img.kb-inline-image, .wp-block-kadence-advancedheading.kt-adv-heading_515ff5-29[data-kb-block=\"kb-adv-heading_515ff5-29\"] img.kb-inline-image{width:150px;vertical-align:baseline;}<\/style>\n<h2 class=\"kt-adv-heading_515ff5-29 wp-block-kadence-advancedheading has-azul-3-color has-text-color\" data-kb-block=\"kb-adv-heading_515ff5-29\">Planning<\/h2>\n<\/div><a href=\"https:\/\/www.guiadoemitente.pt\/3-1-2-1-planning\/\" class=\"kb-section-link-overlay\"><\/a><\/div>\n\n\n<style>.kadence-column_677b2a-ca > .kt-inside-inner-col{padding-top:10px;padding-bottom:10px;padding-left:0px;padding-right:0px;}.kadence-column_677b2a-ca > .kt-inside-inner-col{min-height:100px;border-color:#10154B;border-top-width:1px;border-right-width:1px;border-bottom-width:1px;border-left-width:1px;}.kadence-column_677b2a-ca > .kt-inside-inner-col,.kadence-column_677b2a-ca > .kt-inside-inner-col:before{border-top-left-radius:10px;border-top-right-radius:10px;border-bottom-right-radius:10px;border-bottom-left-radius:10px;}.kadence-column_677b2a-ca:hover > .kt-inside-inner-col{border-color:#FFF;border-top-width:1px;border-right-width:1px;border-bottom-width:1px;border-left-width:1px;}.kadence-column_677b2a-ca > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column_677b2a-ca > .kt-inside-inner-col{flex-direction:column;}.kadence-column_677b2a-ca > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column_677b2a-ca > .kt-inside-inner-col{background-color:rgba(16, 21, 75, 0.2);}.kadence-column_677b2a-ca:hover > .kt-inside-inner-col{background-color:rgba(16,21,75,0.2);background-image:none;}.kadence-column_677b2a-ca > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column_677b2a-ca{position:relative;}@media all and (max-width: 1024px){.kadence-column_677b2a-ca > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column_677b2a-ca > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column inner-column-2 kadence-column_677b2a-ca kb-section-has-link\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading_976f98-3f, .wp-block-kadence-advancedheading.kt-adv-heading_976f98-3f[data-kb-block=\"kb-adv-heading_976f98-3f\"]{margin-top:0px;padding-top:0px;text-align:center;font-size:16px;line-height:30px;font-style:normal;letter-spacing:0.5px;}.wp-block-kadence-advancedheading.kt-adv-heading_976f98-3f mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading_976f98-3f[data-kb-block=\"kb-adv-heading_976f98-3f\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}.wp-block-kadence-advancedheading.kt-adv-heading_976f98-3f img.kb-inline-image, .wp-block-kadence-advancedheading.kt-adv-heading_976f98-3f[data-kb-block=\"kb-adv-heading_976f98-3f\"] img.kb-inline-image{width:150px;vertical-align:baseline;}<\/style>\n<h2 class=\"kt-adv-heading_976f98-3f wp-block-kadence-advancedheading has-azul-3-color has-text-color\" data-kb-block=\"kb-adv-heading_976f98-3f\">Preparation &amp; Review<\/h2>\n<\/div><a href=\"https:\/\/www.guiadoemitente.pt\/3-1-2-2-preparation\/\" class=\"kb-section-link-overlay\"><\/a><\/div>\n\n\n<style>.kadence-column_35b24c-47 > .kt-inside-inner-col{padding-top:10px;padding-bottom:10px;padding-left:0px;padding-right:0px;}.kadence-column_35b24c-47 > .kt-inside-inner-col{min-height:100px;border-color:#10154B;border-top-width:1px;border-right-width:1px;border-bottom-width:1px;border-left-width:1px;}.kadence-column_35b24c-47 > .kt-inside-inner-col,.kadence-column_35b24c-47 > .kt-inside-inner-col:before{border-top-left-radius:10px;border-top-right-radius:10px;border-bottom-right-radius:10px;border-bottom-left-radius:10px;}.kadence-column_35b24c-47:hover > .kt-inside-inner-col{border-color:#FFF;border-top-width:1px;border-right-width:1px;border-bottom-width:1px;border-left-width:1px;}.kadence-column_35b24c-47 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column_35b24c-47 > .kt-inside-inner-col{flex-direction:column;}.kadence-column_35b24c-47 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column_35b24c-47 > .kt-inside-inner-col{background-color:rgba(16, 21, 75, 0.2);}.kadence-column_35b24c-47:hover > .kt-inside-inner-col{background-color:rgba(16,21,75,0.2);background-image:none;}.kadence-column_35b24c-47 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column_35b24c-47{position:relative;}@media all and (max-width: 1024px){.kadence-column_35b24c-47 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column_35b24c-47 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column inner-column-3 kadence-column_35b24c-47 kb-section-has-link\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading_6a3604-65, .wp-block-kadence-advancedheading.kt-adv-heading_6a3604-65[data-kb-block=\"kb-adv-heading_6a3604-65\"]{margin-top:0px;padding-top:0px;text-align:center;font-size:16px;font-style:normal;letter-spacing:0.5px;}.wp-block-kadence-advancedheading.kt-adv-heading_6a3604-65 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading_6a3604-65[data-kb-block=\"kb-adv-heading_6a3604-65\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}.wp-block-kadence-advancedheading.kt-adv-heading_6a3604-65 img.kb-inline-image, .wp-block-kadence-advancedheading.kt-adv-heading_6a3604-65[data-kb-block=\"kb-adv-heading_6a3604-65\"] img.kb-inline-image{width:150px;vertical-align:baseline;}<\/style>\n<h2 class=\"kt-adv-heading_6a3604-65 wp-block-kadence-advancedheading has-azul-3-color has-text-color\" data-kb-block=\"kb-adv-heading_6a3604-65\">Offering &amp; Placement<\/h2>\n<\/div><a href=\"https:\/\/www.guiadoemitente.pt\/3-1-2-3-offering-and-placement\/\" class=\"kb-section-link-overlay\"><\/a><\/div>\n<\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>This Section was prepared to show potential Issuers that an IPO &#8211; with a Public Offering covered by one of the exemptions from preparing and disclosing a Prospectus or with a Private Placement \u2013 followed by and admission to trading on an MTF &#8211; can be, comparatively, a simple process and potentially requires less changes [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10415,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[90],"tags":[],"class_list":["post-3022","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-3-1-the-ipo-journey"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.guiadoemitente.pt\/en\/wp-json\/wp\/v2\/posts\/3022","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.guiadoemitente.pt\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.guiadoemitente.pt\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.guiadoemitente.pt\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.guiadoemitente.pt\/en\/wp-json\/wp\/v2\/comments?post=3022"}],"version-history":[{"count":10,"href":"https:\/\/www.guiadoemitente.pt\/en\/wp-json\/wp\/v2\/posts\/3022\/revisions"}],"predecessor-version":[{"id":10396,"href":"https:\/\/www.guiadoemitente.pt\/en\/wp-json\/wp\/v2\/posts\/3022\/revisions\/10396"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.guiadoemitente.pt\/en\/wp-json\/wp\/v2\/media\/10415"}],"wp:attachment":[{"href":"https:\/\/www.guiadoemitente.pt\/en\/wp-json\/wp\/v2\/media?parent=3022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.guiadoemitente.pt\/en\/wp-json\/wp\/v2\/categories?post=3022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.guiadoemitente.pt\/en\/wp-json\/wp\/v2\/tags?post=3022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}