On 4 March 2026, the Hellenic Capital Market Commission (HCMC) approved the application of Athens Stock Exchange (ATHEX) to register its Alternative Market (EN.A.) as an SME Growth Market under Article 33 of MiFID II. This designation aligns EN.A. with the EU Growth prospectus framework established under Regulation (EU) 2017/1129, unlocking significant benefits for small and medium-sized enterprises seeking access to capital markets.
The new EN.A. rules will come into effect upon publication of its new regulation on the ATHEX Group website (www.athexgroup.gr).
Who Benefits?
The SME Growth Market status is designed specifically for small and medium-sized enterprises (SMEs) that wish to raise capital through public offerings and/or obtain admission to trading, whilst avoiding the full regulatory burden associated with listing on a regulated market.
Key Advantages
Lighter prospectus and MAR requirements: Eligible issuers may use an “EU Growth prospectus” – a streamlined disclosure document with reduced content requirements – rather than a full prospectus, lowering costs, enhancing faster regulatory approvals and accelerating time-to-market (unless they fall within one of the exemptions also applicable to SME Growth Markets). Issuers traded on an SME Growth Market benefit from lighter MAR-related requirements with respect to the HCMC’s update as regards the delay in disclosing inside information to the public and maintaining insider lists, thereby reducing the regulatory burden.
EU-wide recognition: The SME Growth Market designation enhances visibility among international institutional investors seeking European SME investment opportunities.
A pathway to the regulated market: The framework serves as a “funding escalator”, enabling companies to grow efficiently and prepare for a future transition to the main regulated market.
This development marks an important milestone for the Greek capital market, positioning EN.A. as a more competitive, cost-efficient and internationally recognised venue for SMEs seeking growth capital.