The size of the offering was EUR 693 million, consisting of 16.7 million new shares and 12.2 million existing shares (excluding the employee offering). As a result of the IPO, the company raised EUR 400 million. In addition, there is an over-allotment option consisting of up to 4.3 million new shares (EUR 104 million).
"We are delighted that we have completed this important step in our company's evolution. Over the last few weeks we have met a great number of institutional investors around the world and we have received significant support for both our IPO and our business model. We welcome our new shareholders and, as a listed company, look forward to delivering our strategy", Euronext CEO and chairman Jean-François Théodore said.
The shares were offered in the form of a global placement mainly to international institutional investors and a public offering to retail investors in France, Belgium and the Netherlands.
The offering was oversubscribed, reflecting investors' interest in Euronext, despite an extremely difficult IPO market.
Retail investors were allocated EUR 104 million in the offering. "We are happy to welcome retail investors from France, Belgium and the Netherlands amongst our shareholders, which contributes to the process of further diversifying our shareholder base", Jean-François Théodore said.
Euronext shares will be traded from 10:00 a.m. Friday, July 6, on the Premier Marché of Euronext Paris, with trading facilities in Belgium and the Netherlands until the unified trading and clearing platforms are implemented and the different settlement platforms are linked.
ABN AMRO Rothschild and BNP Paribas were joint global co-ordinators of the offering.
ABN AMRO Rothschild, BNP Paribas and UBS Warburg were bookrunners and joint lead managers for the global institutional offering.
Société Générale, ABN AMRO Rothschild and BNP Paribas were joint lead managers for the retail offering in France, Belgium and the Netherlands.
Euronext: Europe's first cross border exchange organisation
Euronext is the first European cross-border exchange organisation, created in September 2000 by the merger of the exchanges in Paris, Amsterdam and Brussels. Through its exchanges, Euronext manages both regulated and unregulated markets and offers a complete and varied range of services encompassing all exchange activity, including listing of financial instruments, trading in securities and derivatives (including futures and options on stocks and a variety of interest rate and commodity derivatives), clearing, settlement and custody of securities.
As of December 2000, Euronext was Europe's largest exchange organisation in terms of cash trading volumes through the central order book, and the second largest in terms of number and total market capitalisation of listed companies.
Euronext's strategy is centred upon becoming the first integrated European exchange, thereby making the concept of a European capital market a reality, providing efficiency and creating value for all Euronext market users, including listed companies, investors, trading and clearing members, and Euronext shareholders alike.
In 2000, the company experienced strong organic growth in its core businesses, with total revenues increasing by 34% to EUR 751.8 million and net profit increasing 45% to EUR 127.0 million.
