NYSE Euronext today announced the listing on NYSE Alternext in Paris of Global Bioenergies, a company specialized in bioprocesses that convert renewable resources into hydrocarbons.
Founded in 2008, Global Bioenergies is developing a unique process to produce isobutene biologically from renewable resources. Isobutene, a hydrocarbon currently obtained exclusively from fossil oil, is one of the key building blocks of the petrochemical industry. It can be used to produce each of the three main fuels - gasoline, diesel and kerosene - as well as a wide range of other materials (synthetic rubber, organic glass and plastics). Global Bioenergies is a French company based in Evry, south of Paris, and employs a staff of around 20 that is primarily involved in R&D.
Global Bioenergies (ticker code: ALGBE) was listed through admission to trading of 1,246,500 existing shares and 333,675 new shares and additional new shares issued under a Global Offering[1], including full exercise of the extension clause and over-allotment option. The Global Offering raised a total of €6.6 million, including full exercise of the extension clause and over-allotment option.
The admission and issue price of Global Bioenergies shares was set at €19.85. Market capitalization stood at €31.4 million on the day of listing.
"We are delighted to welcome Global Bioenergies to NYSE Alternext and to see leading-edge, fast-growing companies continue to use listing to back their growth," said Ronald Kent, Group Executive Vice President and Head of International Listings at NYSE Euronext. He added: "We are eager to help Global Bioenergies raise its profile and look forward to offering it the high-quality services associated with listing on our markets."
Marc Delcourt, Chairman and CEO of Global Bioenergies, commented: "Our listing on NYSE Alternext is a major step for Global Bioenergies, and one that will bring us the visibility we need to bring our project to fruition. I would like to thank everyone who took part in this operation. We will be harnessing all our efforts to live up to their confidence and attract new partners soon."
In six years, €2.4 billion has been raised on NYSE Alternext, half through secondary issues, by 166 companies from countries including Belgium, Canada, China, France, Italy, Luxembourg, the Netherlands, Spain, the UK and the US. Their market capitalization totals €5.6 billion.
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[1] The Global Offering was made up of an Open Price Public Offering and a Global Placement with institutional investors in France and other countries.