Insights

De Brauw has again prepared its annual reporting checklist for Dutch public limited liability companies whose shares or depositary receipts for shares are listed on Euronext Amsterdam. The checklist covers annual reporting for those financial years that start on 1 January 2026. It is available for issuers with two-tier board models and, new this year, one-tier board models. 

The Digital General Meeting Act, enabling Dutch companies and associations to hold general meetings that are accessible only by electronic means, will enter into force on 1 January 2027. We explained the key provisions of this new law in a previous article. 

A key trade-facilitating grandfathering clause under EU rules will expire on 17 January 2027. Third-country CSDs such as DTC may then suspend core services to affected EU issuers, potentially disrupting trading in their equity or debt instruments abroad.

De Brauw advised the underwriting banks on the US initial public offering of INNIO N.V., a global energy solutions provider for applications such as data centres. The IPO consisted entirely of a secondary offering by the selling shareholder AI Alpine, which is co-owned by funds managed by Advent International and the Abu Dhabi Investment Authority (ADIA). It raised USD 2.43 billion.

Universal Music Group is a music and entertainment company active in recorded music, music publishing, merchandising and audiovisual content. It has been listed on Euronext Amsterdam since 2021. Pershing Square Capital Management, L.P. is a New York-based hedge fund founded and managed by Bill Ackman.

De Brauw advised TenneT Netherlands B.V. on a decision by the Dutch central bank allowing credit institutions to treat exposures to TenneT as exposures to the Dutch central government. TenneT is the first Dutch company to obtain this status and to be included on the European Banking Authority's list.