{"id":3106,"date":"2022-08-21T23:01:34","date_gmt":"2022-08-21T23:01:34","guid":{"rendered":"https:\/\/www.guiadoemitente.pt\/?p=3106"},"modified":"2024-04-18T15:17:06","modified_gmt":"2024-04-18T15:17:06","slug":"3-2-4-spo-costs","status":"publish","type":"post","link":"https:\/\/issuers-guide.buzzvel.work\/en\/3-2-4-spo-costs\/","title":{"rendered":"3.2.4. SPO Costs"},"content":{"rendered":"<style>.kadence-column3106_c277d2-08 > .kt-inside-inner-col{padding-top:0px;padding-right:5px;padding-bottom:0px;padding-left:15px;}.kadence-column3106_c277d2-08 > .kt-inside-inner-col{min-height:36px;border-left:10px solid var(--global-palette1, #3182CE);}.kadence-column3106_c277d2-08 > .kt-inside-inner-col,.kadence-column3106_c277d2-08 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column3106_c277d2-08 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column3106_c277d2-08 > .kt-inside-inner-col{flex-direction:column;}.kadence-column3106_c277d2-08 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column3106_c277d2-08 > .kt-inside-inner-col{background-color:var(--global-palette8, #F7FAFC);}.kadence-column3106_c277d2-08 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column3106_c277d2-08{position:relative;}.kadence-column3106_c277d2-08, .kt-inside-inner-col > .kadence-column3106_c277d2-08:not(.specificity){margin-top:3px;margin-bottom:0px;}@media all and (max-width: 1024px){.kadence-column3106_c277d2-08 > .kt-inside-inner-col{border-left:10px solid var(--global-palette1, #3182CE);flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column3106_c277d2-08 > .kt-inside-inner-col{border-left:10px solid var(--global-palette1, #3182CE);flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column3106_c277d2-08 inner-column-1\"><div class=\"kt-inside-inner-col\">\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-28f84493 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:100%\">\n<p><\/p>\n\n\n\n<p><em>When comparing to an IPO, an SPO will be a less demanding process for all for all those involved in the operation and the Company incurs in less costs.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n<p>The same type of costs that arise in an IPO also may arise in an SPO. Nonetheless, usually those costs are smaller in an SPO given the efforts required for the planning, preparation and marketing will be typically less.<\/p>\n\n\n\n<p>Based on financial information available from Portuguese listed companies, the average total cost of an SPO tends to be within the interval of 1% &#8211; 5% of the total amount of funds raised during the offer.<\/p>\n\n\n\n<p>Typically, the larger the offering, the higher the costs in absolute terms. Nevertheless, in relative terms, usually they represent a much smaller proportion of the value of the offer proceeds compared with small-sized offerings.<\/p>\n\n\n<style>.kadence-column3106_f6ddc2-ce > .kt-inside-inner-col{padding-top:0px;padding-right:20px;padding-bottom:0px;padding-left:20px;}.kadence-column3106_f6ddc2-ce > .kt-inside-inner-col{min-height:36px;}.kadence-column3106_f6ddc2-ce > .kt-inside-inner-col,.kadence-column3106_f6ddc2-ce > .kt-inside-inner-col:before{border-top-left-radius:36px;border-top-right-radius:36px;border-bottom-right-radius:36px;border-bottom-left-radius:36px;}.kadence-column3106_f6ddc2-ce > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column3106_f6ddc2-ce > .kt-inside-inner-col{flex-direction:column;}.kadence-column3106_f6ddc2-ce > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column3106_f6ddc2-ce > .kt-inside-inner-col{background-color:rgba(241, 241, 241, 0.5);}.kadence-column3106_f6ddc2-ce:hover > .kt-inside-inner-col{background-color:rgba(241,241,241,0.5);background-image:none;}.kadence-column3106_f6ddc2-ce > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column3106_f6ddc2-ce{position:relative;}.kadence-column3106_f6ddc2-ce, .kt-inside-inner-col > .kadence-column3106_f6ddc2-ce:not(.specificity){margin-top:0px;margin-bottom:0px;}@media all and (max-width: 1024px){.kadence-column3106_f6ddc2-ce > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column3106_f6ddc2-ce > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column3106_f6ddc2-ce inner-column-1\"><div class=\"kt-inside-inner-col\">\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-28f84493 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:100%\"><style>.kb-row-layout-id3106_8c6291-b5 > .kt-row-column-wrap{align-content:start;}:where(.kb-row-layout-id3106_8c6291-b5 > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}.kb-row-layout-id3106_8c6291-b5 > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-md, 2rem);padding-top:20px;padding-bottom:0px;grid-template-columns:minmax(0, calc(10% - ((var(--global-kb-gap-md, 2rem) * 1 )\/2)))minmax(0, calc(90% - ((var(--global-kb-gap-md, 2rem) * 1 )\/2)));}.kb-row-layout-id3106_8c6291-b5 > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id3106_8c6291-b5 > .kt-row-column-wrap{grid-template-columns:repeat(2, minmax(0, 1fr));}}@media all and (max-width: 767px){.kb-row-layout-id3106_8c6291-b5 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id3106_8c6291-b5 alignnone wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-2-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-top\">\n<style>.kadence-column3106_e4bb0f-c2 > .kt-inside-inner-col,.kadence-column3106_e4bb0f-c2 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column3106_e4bb0f-c2 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column3106_e4bb0f-c2 > .kt-inside-inner-col{flex-direction:column;}.kadence-column3106_e4bb0f-c2 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column3106_e4bb0f-c2 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column3106_e4bb0f-c2{position:relative;}@media all and (max-width: 1024px){.kadence-column3106_e4bb0f-c2 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column3106_e4bb0f-c2 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column3106_e4bb0f-c2 inner-column-1\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-icon.kt-svg-icons3106_1daa24-22{justify-content:center;}<\/style>\n<div class=\"wp-block-kadence-icon kt-svg-icons kt-svg-icons3106_1daa24-22 alignnone\"><style>.kt-svg-item-3106_2eac6f-15 .kb-svg-icon-wrap, .kt-svg-style-stacked.kt-svg-item-3106_2eac6f-15 .kb-svg-icon-wrap{color:#444444;font-size:30px;margin-top:29px;margin-right:29px;margin-bottom:29px;margin-left:29px;}<\/style>\n<div class=\"wp-block-kadence-single-icon kt-svg-style-default kt-svg-icon-wrap kt-svg-item-3106_2eac6f-15\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_book-reader\"><svg viewBox=\"0 0 512 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M352 96c0-53.02-42.98-96-96-96s-96 42.98-96 96 42.98 96 96 96 96-42.98 96-96zM233.59 241.1c-59.33-36.32-155.43-46.3-203.79-49.05C13.55 191.13 0 203.51 0 219.14v222.8c0 14.33 11.59 26.28 26.49 27.05 43.66 2.29 131.99 10.68 193.04 41.43 9.37 4.72 20.48-1.71 20.48-11.87V252.56c-.01-4.67-2.32-8.95-6.42-11.46zm248.61-49.05c-48.35 2.74-144.46 12.73-203.78 49.05-4.1 2.51-6.41 6.96-6.41 11.63v245.79c0 10.19 11.14 16.63 20.54 11.9 61.04-30.72 149.32-39.11 192.97-41.4 14.9-.78 26.49-12.73 26.49-27.06V219.14c-.01-15.63-13.56-28.01-29.81-27.09z\"\/><\/svg><\/span><\/div>\n<\/div>\n<\/div><\/div>\n\n\n<style>.kadence-column3106_c343e7-07 > .kt-inside-inner-col,.kadence-column3106_c343e7-07 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column3106_c343e7-07 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column3106_c343e7-07 > .kt-inside-inner-col{flex-direction:column;}.kadence-column3106_c343e7-07 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column3106_c343e7-07 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column3106_c343e7-07{position:relative;}@media all and (max-width: 1024px){.kadence-column3106_c343e7-07 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column3106_c343e7-07 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column3106_c343e7-07 inner-column-2\"><div class=\"kt-inside-inner-col\">\n<p><\/p>\n\n\n\n<p>Recommended reading: <a href=\"https:\/\/issuers-guide.buzzvel.work\/3-1-3-ipo-costs\/\" data-type=\"post\" data-id=\"3080\" target=\"_blank\" rel=\"noreferrer noopener\">3.1.3. IPO Costs<\/a> main costs of SPO process (except Euronext fees that are described below).<\/p>\n<\/div><\/div>\n\n<\/div><\/div><\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Euronext fees<\/strong><\/p>\n\n\n\n<p>The Company that applies for admission to trading of its shares shall pay any fees charged by Euronext, in accordance with the conditions defined.<\/p>\n\n\n\n<p>The Stock Market Operator, Euronext, charges the following subsequent admission fees for shares:<\/p>\n\n\n<style>.kb-image3106_716234-08.kb-image-is-ratio-size, .kb-image3106_716234-08 .kb-image-is-ratio-size{max-width:850px;width:100%;}.wp-block-kadence-column > .kt-inside-inner-col > .kb-image3106_716234-08.kb-image-is-ratio-size, .wp-block-kadence-column > .kt-inside-inner-col > .kb-image3106_716234-08 .kb-image-is-ratio-size{align-self:unset;}.kb-image3106_716234-08{max-width:850px;}.image-is-svg.kb-image3106_716234-08{-webkit-flex:0 1 100%;flex:0 1 100%;}.image-is-svg.kb-image3106_716234-08 img{width:100%;}.kb-image3106_716234-08:not(.kb-image-is-ratio-size) .kb-img, .kb-image3106_716234-08.kb-image-is-ratio-size{padding-right:100px;padding-left:100px;}.kb-image3106_716234-08 .kb-image-has-overlay:after{opacity:0.3;}<\/style>\n<figure class=\"wp-block-kadence-image kb-image3106_716234-08 size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"690\" src=\"https:\/\/issuers-guide.buzzvel.work\/wp-content\/uploads\/2024\/04\/All-Markets-1024x690.png\" alt=\"\" class=\"kb-img wp-image-12116\" srcset=\"https:\/\/issuers-guide.buzzvel.work\/wp-content\/uploads\/2024\/04\/All-Markets-1024x690.png 1024w, https:\/\/issuers-guide.buzzvel.work\/wp-content\/uploads\/2024\/04\/All-Markets-300x202.png 300w, https:\/\/issuers-guide.buzzvel.work\/wp-content\/uploads\/2024\/04\/All-Markets-768x518.png 768w, https:\/\/issuers-guide.buzzvel.work\/wp-content\/uploads\/2024\/04\/All-Markets.png 1408w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Check more detailed fees charged by Euronext <a href=\"https:\/\/www.euronext.com\/en\/raise-capital\/how-go-public\/rules-fees-and-form\" data-type=\"URL\" data-id=\"https:\/\/www.euronext.com\/en\/raise-capital\/how-go-public\/rules-fees-and-form\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a>.<\/p>\n\n\n\n<p>The fees charged for the processing of exercise of issue rights is fixed in 529,50\u20ac. Check more detailed fees charged by Euronext Securities <a href=\"https:\/\/www.interbolsa.pt\/informacao-e-documentacao\/dados-da-atividade\/lista-de-precos\/\" data-type=\"URL\" data-id=\"https:\/\/www.interbolsa.pt\/informacao-e-documentacao\/dados-da-atividade\/lista-de-precos\/\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>When comparing to an IPO, an SPO will be a less demanding process for all for all those involved in the operation and the Company incurs in less costs. The same type of costs that arise in an IPO also may arise in an SPO. Nonetheless, usually those costs are smaller in an SPO given [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12001,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[96],"tags":[],"class_list":["post-3106","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-3-2-secondary-public-offerings"],"acf":[],"_links":{"self":[{"href":"https:\/\/issuers-guide.buzzvel.work\/en\/wp-json\/wp\/v2\/posts\/3106","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/issuers-guide.buzzvel.work\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/issuers-guide.buzzvel.work\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/issuers-guide.buzzvel.work\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/issuers-guide.buzzvel.work\/en\/wp-json\/wp\/v2\/comments?post=3106"}],"version-history":[{"count":14,"href":"https:\/\/issuers-guide.buzzvel.work\/en\/wp-json\/wp\/v2\/posts\/3106\/revisions"}],"predecessor-version":[{"id":12177,"href":"https:\/\/issuers-guide.buzzvel.work\/en\/wp-json\/wp\/v2\/posts\/3106\/revisions\/12177"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/issuers-guide.buzzvel.work\/en\/wp-json\/wp\/v2\/media\/12001"}],"wp:attachment":[{"href":"https:\/\/issuers-guide.buzzvel.work\/en\/wp-json\/wp\/v2\/media?parent=3106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/issuers-guide.buzzvel.work\/en\/wp-json\/wp\/v2\/categories?post=3106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/issuers-guide.buzzvel.work\/en\/wp-json\/wp\/v2\/tags?post=3106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}