The Portuguese Government published Decree-Law No. 171/2026, which amends the Securities Code and transposes European rules, including the "Listing Act" package, with the aim of facilitating access for companies, especially SMEs, to capital markets. The new rules reduce the minimum free float from 25% to 10%, raise the prospectus exemption threshold from 8 to 12 million euros, create specific segments with more flexible admission rules for growing SMEs, and raise the squeeze-out capital threshold to 90%. The law enters into force on September 1, 2026, with phased obligations until 2030 for ESAP, the European single access point that will centralize financial information.
Jornal Económico28/08/26, 10:00
