Euronext shares to debut from €19 to €25

The European financial markets operator Euronext has announced that it hopes to raise between €880 million and €1.158 billion in an initial public offering starting June 20th. This would value the Amsterdam-based stock exchange between €1.33 billion and €1.75 billion. The shares offered, which will make up 60.15 percent of the company’s capital, are expected to be priced between €19 and €25 per share. The offering price of the shares is expected to be made public on 19th June. According to Reuters, a number of institutional investors, including ABN Amro, BNP Paribas and Societe Generale, will partner up to purchase a 33.36 percent stake in Euronext at a 4 percent discount to the IPO price. Euronext’s parent company, Intercontinental Exchange Inc, took over NYSE Euronext in 2013 in a deal worth approximately $11billion. This takeover was permitted on the condition that Intercontinental Exchange, headquartered in Atlanta, would maintain a 25 percent stake in Euronext for three years or find alternative suitable investors. Currently, Euronext operates equity, fixed income and derivatives markets in Amsterdam, Brussels, Paris and Lisbon. They have also been approved to operate as a full exchange by the UK’s financial regulatory body. J.P. Morgan, Societe Generale and ABN AMRO Bank are coordinating the IPO.