Bittnet prepared and submitted the Universal Prospectus for ASF’s approval to simplify and speed up the process of a future public offering of securities. From now on, for any new offer of financial instruments issued by Bittnet, regardless of their type or class, the company only needs to prepare a securities note and a summary. Bittnet intend to benefit from this solution in the course of the next 12 months, for carrying out a capital increase and running an offer for the company’s preferential shares.
Under the EU Prospectus Regulation, frequent issuers are incentivized to draw up their prospectus as separate documents, since that can reduce their cost of compliance with this Regulation and enable them to react to market windows swiftly. Thus, since July 2019 issuers whose securities are admitted to trading on regulated markets or MTFs have an option to draw up and publish every financial year a universal registration document containing legal, business, financial, accounting and shareholding information and providing a description of the issuer for the respective financial year.
Drawing up a universal registration document enables the issuer to keep the information up-to-date and only to add a securities note and a summary of the offering when market conditions become favourable for an offer of securities to the public. The universal registration document acts as a source of reference on the issuer, supplying investors and analysts with the minimum information needed to make an informed judgement on the company’s business, financial position, earnings and prospects, governance and shareholding.