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Portuguese
Die
Mehrzahl
der
befragten
Fondsverwalter
,
hochsolventen
Investoren
und
Wagniskapitalgeber
betonten
,
dass
die
Börsen
gegenwärtig
noch
nicht
ihr
Bestes
tun
,
um
den
Zugang
für
die
KMU
herzustellen
oder
Liquidität
für
die
von
KMU
angebotenen
Sicherheiten
bereitzustellen
.Gemäß
einer
von
Tim
Mocroft
erstellten
Untersuchung
sind
die
Börsennotierung
und
die
aufsichtsrechtlichen
Anforderungen
der
bestehenden
Börsen
zwar
kostenaufwändig
,
doch
seien
diese
Kosten
angesichts
der
Größe
der
beteiligten
Unternehmen
und
der
eingesammelten
Geldbeträge
nicht
erheblich
. [EU]
Both
factors
,
however
,
impose
a
floor
on
the
size
of
company
that
can
effectively
access
the
main
markets
that
serve
in
the
United
Kingdom
-
namely
the
official
list
of
the
London
Stock
Exchange
and
the
AIM
[...]
Typically
an
IPO
on
either
market
will
cost
in
the
region
of
GBP
500000
;
with
such
costs
,
it
is
uneconomic
to
raise
relatively
small
sums
of
capital
.» [...apesar
de
os
custos
inerentes
ao
respeito
dos
requisitos
regulamentares
e
das
obrigações
em
matéria
de
admissão
à
cotação
por
parte
das
bolsas
tradicionais
serem
elevados
,
são
na
generalidade
bem
aceites
dada
a
dimensão
das
empresas
e
os
montantes
mobilizados
.
Goldman
Sachs:
"FT
stand
kurz
vor
der
Einstufung
als
Junk
Bond
,
sowohl
durch
Moody's
als
auch
durch
S &
P"
. (
"FT
was
on
the
brink
of
'junk'
status
with
both
Moody
' s
and
S & P ' s ".) [EU]
Goldman
Sachs:
«A
FT
esteve
prestes
a
ser
colocada
no
nível
especulativo
pela
Moody's
e
pela
S &
P»
. (
«FT
was
on
the
brink
of
"junk"
status
with
both
Moody's
and
S &
P's
».)
this
);">In
particular
for
the
early
phases
of
JVCo
,
both
Parties
commit
to
enter
into
agreements
to
supply
necessary
services
to
JVCo
for
a
period
of
at
least
2
years
,
until
JVCo
is
in
a
position
to
function
cost
effectively
without
this
support
from
its
owner
entities
." [JVCo
kann
bestimmte
Dienstleistungen
(
Infrastruktur
,
Management
,
betriebliche
und
technologische
Unterstützung
und
Entwicklung
usw
.),
die
kostengünstiger
durch
einen
Partner
erbracht
werden
können
als
durch
JVCo
selbst
,
dauerhaft
oder
vorübergehend
an
einen
Partner
vergeben
. [EU]
Nomeadamente
,
nas
fases
iniciais
da
JVCo
,
as
duas
Partes
comprometem-se
a
concluir
acordos
de
fornecimento
dos
serviços
necessários
à
JVCo
por
um
período
de
pelo
menos
2
anos
,
até
que
a
JVCo
esteja
em
condições
de
funcionar
de
forma
mais
rentável
sem
este
apoio
das
entidades
proprietárias
.»
Nagylak
HU:
This
is
a
border
inspection
post
(
for
products
)
and
crossing
point
(
for
live
animals
)
on
the
Hungarian
Romanian
Border
,
subject
to
transitional
measures
as
negotiated
and
laid
down
in
the
Treaty
of
Accession
for
both
products
and
live
animals
. [EU]
Nagylak
HU:
This
is
a
border
inspection
post
(for
products
)
and
crossing
point
(for
live
animals
)
on
the
Hungarian
Romanian
Border
,
subject
to
transitional
measures
as
negotiated
and
laid
down
in
the
Treaty
of
Accession
for
both
products
and
live
animals
.
"The
ratings
also
take
into
account
the
unchallenged
status
of
both
it
and
its
parent
,
Germany-based
Volkswagen
Financial
Services
AG
(
VWFS
),
as
core
and
captive
finance
entities
to
VW"
und
"the
ratings
on
VW
Bank
could
moderately
diverge
(
generally
not
more
than
one
notch
)
from
the
ratings
on
VW
or
VWFS
;
currently
only
its
outlook
differs
." [EU]
«the
ratings
also
take
into
account
the
unchallenged
status
of
both
it
and
its
parent
,
Germany-based
Volkswagen
Financial
Services
AG
(VWFS),
as
core
and
captive
finance
entities
to
VW»
e
«the
ratings
on
VW
Bank
could
moderately
diverge
(generally
not
more
than
one
notch
)
from
the
ratings
on
VW
or
VWFS
;
currently
only
its
outlook
differs
.»
Sentences marked by [EU] derived from
DGT Multilingual Translation Memory
. The European Commission retains ownership of the copyright in the original data.
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