Francisco Soares Machado Comments on Changes to the Portuguese Securities Code

In an interview with NOW Canal’s Negócios programme, Francisco Soares Machado, Partner in the Finance & Governance department at SÉRVULO, argues that this legislation introducing amendments to the Portuguese Securities Code is a positive development. “Driven by the European Union’s agenda, the Government is implementing measures to make the capital markets more competitive,” he states.

The threshold above which a prospectus becomes mandatory for securities offerings has been increased to €12 million. “More companies will be able to access the capital markets without having to obtain approval of a prospectus. There is a clear administrative and regulatory simplification,” explains the lawyer. “However, Portugal is a country of small and medium-sized enterprises, which means that there is sometimes a lack of scale to access the capital markets. This is a structural issue that will be addressed over time,” he adds.

Watch Francisco Soares Machado’s analysis here.