{"id":3295,"date":"2022-08-22T11:33:55","date_gmt":"2022-08-22T11:33:55","guid":{"rendered":"https:\/\/www.guiadoemitente.pt\/?p=3295"},"modified":"2024-04-18T16:25:33","modified_gmt":"2024-04-18T16:25:33","slug":"5-3-ongoing-costs","status":"publish","type":"post","link":"https:\/\/www.guiadoemitente.pt\/en\/5-3-ongoing-costs\/","title":{"rendered":"5.3. Ongoing Costs"},"content":{"rendered":"\n

The benefits of being a listed company (easiest financing in the future, better visibility and corporate improvements, etc \u2013 <\/a>5.1 Leverage the opportunities created<\/a>) implies also subsequent costs to the IPO\/bond offering (e.g. fees due to Euronext, supervision fees due to CMVM, costs related to disclosure requirements.<\/p>\n\n\n\n

Particularly for an IPO, the respective expenses may be offset by the reduction or elimination of the illiquidity discount. Subsequently, it should be noted that the costs of secondary offerings are much lower than the costs of primary offerings, given the absence of costs related restructuring and the reduced effort necessary to make the public know the company.<\/p>\n\n\n\n

It is estimated that the value of an unlisted company may be lower than that of an identical company listed on an efficient market.<\/p>\n\n\n\n

CMVM supervision fees<\/strong><\/p>\n\n\n\n

Services for the continuous supervision of the information provided by issuers to the market.<\/p>\n\n\n\n

A quarterly fee is due to CMVM, for each issuer of securities admitted to trading on a regulated market<\/strong>, for the continuous supervision of the provision of information to the market, in an amount depending on market capitalisation:<\/p>\n\n\n