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Book II - Issuers and financial disclosure
Title I - Offer of securities to the public or admission of securities to trading on a regulated market
Chapter I - Scope
Article 211-2 from 21/07/2018 to 21/11/2019

Article 211-2 into force from to

  • Version into force from to
ELI : /en/eli/fr/aai/amf/rg/article/211-2/20180721/notes

I. - Within the meaning of Article L. 411-2, I of the Monetary and Financial Code, an offering of financial securities does not constitute a public offer if it presents one of the following characteristics:

  1. The total amount in France and in the Union is less than EUR 8,000,000 or the foreign currency equivalent thereof;

  2. [empty];

  3. It is intended for investors acquiring at least EUR 100,000 worth, or the foreign currency equivalent thereof, per investor and per transaction, of the relevant financial securities;

  4. It concerns financial securities with a minimum par value of at least EUR 100,000 or the foreign currency equivalent thereof.

II. - The total amount of the offer referred to in points I, 1 and the amount referred to in Article L. 411-2 I bis of the Monetary and Financial Code are calculated over a twelve-month period from the date of the first offer. The total amount of these offers is less than EUR 8,000,000 calculated on a twelve-month period.