ESMA_QA_909

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/909

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Regulatory Context

Regulation : PROSPECTUS

Level 1 Regulation: Prospectus Regulation 2017/1129

Level 2 Regulation: No information available

Level 3 Regulation: No information available

Topic: Public offer

Subject Matter: Updating of the prospectus

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Question

Submission Date: 28 January 2021

Is the issuer entitled to use its prospectus to make several offers?

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ESMA Answer

Answer Date: 28-01-2021

[ESMA 31-62-1258 Prospectuses Q&A nr 14.7] The following example should provide guidance for this particular situation: In October 2019, the issuer has an approved prospectus to make a public offer of securities at that time. In June 2020, the issuer decides to make a new offer of securities. As the October prospectus does not contain information concerning the new offer the issuer should produce a new prospectus.  This new prospectus could incorporate by reference information from the October prospectus in accordance with Article 19 of the PR.

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This document was automatically extracted from the ESMA EMIR Q&A database.