(7)Acknowledging the important role of initial public offers (IPOs) of shares for EU public markets and for the EU economy in general, it is important to clearly identify and provide for a maximum level of standardisation for prospectuses for an initial public offer of a class of shares admitted to trading on a regulated market for the first time. Therefore, a new sub-category of standard prospectus for EU IPOs should be introduced. EU IPO prospectuses should be drawn up in accordance with the standard prospectus regime set out in Article 6 of Regulation (EU) 2017/1129 and be subject to a standardised format and sequence, unless the prospectuses meet the conditions for exemption set out in that Article. The standardised format and sequence of an EU IPO prospectus should be based either (i) on the order of sections set out in a new Annex for a prospectus for equity securities drawn up as a single document, which is to be introduced in Delegated Regulation (EU) 2019/980; or (ii) on the order of sections set out in Annexes 1 and 11 to that Delegated Regulation, when drawn up as separate documents.