Directive (EU) 2017/1132 Article 47

Issuing price of shares

Article 47

Shares may not be issued at a price lower than their nominal value, or, where there is no nominal value, their accountable par. However, Member States may allow those who undertake to place shares in the exercise of their profession to pay less than the total price of the shares for which they subscribe in the course of this transaction.

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Other provisions in Section 1 — Capital requirements

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of 2026-07-04

CitationArticle 47 of Directive (EU) 2017/1132 (LawPlayer, data as of 2026-07-04)

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