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The Portuguese stock exchange was fully integrated into Euronext in November 2003, having signed up to the pan-European exchange in 2002. The theory was that listed companies would have exposure to a wider pool of investors – and might take the opportunity to raise new equity funding and lower their high leverage levels.
Has it worked? Certainly Portuguese stocks are now held by a wider group of investors, according to Miguel Athayde Marques, CEO of Euronext Portugal and a member of the managing board of Euronext.
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