Coca-Cola Enterprises, Inc. (ticker symbol: CCE), one of the world's largest independent Coca‑Cola bottlers, celebrated its Fast Path secondary listing on NYSE Euronext in Paris today. CCE is the first NYSE-listed company in 2011 to take advantage of this streamlined, cost-effective process and the eleventh(*) to do so since the facility was made available by NYSE Euronext in 2008.
The decision for Coca-Cola Enterprises to list on NYSE Euronext in Paris followed the separation of its European operations from its North American business, which was assumed by The Coca-Cola Company, and its simultaneous acquisition of The Coca-Cola Company’s bottling operations in Norway and Sweden in October 2010. Coca-Cola Enterprises employs 13,500 employees across Western Europe, where the company distributes a wide range of beverages, including regular, no- and low-calorie sparkling, energy and sports drinks, waters, juices and juice drinks, coffees and teas.
Coca-Cola Enterprises’ Common Stock was admitted to listing and trading on NYSE Euronext by direct listing of the existing 340,763,680 shares making up the company's capital stock.
The admission price of the company’ shares was set at €20.73 each, i.e. the closing price of its shares on 23 May 2011 converted into Euros on the basis of the European Central Bank EUR/USD exchange rate of the same trading day. Coca-Cola Enterprises’ market capitalization on the day of admission amounted to €7.06 billion.
“We would like to extend a warm welcome to Coca-Cola Enterprises, a strong addition to the international companies already listed on the professional segment of NYSE Euronext in Paris,”said Dominique Cerutti, President and Deputy CEO of NYSE Euronext.”We are delighted that Coca-Cola Enterprises has chosen Paris for its international listing. Such a high-profile float is a major win for the French financial market and we are confident that more global firms will seek to take advantage of the profile and access to capital that a NYSE Euronext in Paris listing offers.”
Ronald Kent, Group Executive Vice President and Head of International Listings at NYSE Euronext, added: “Coca-Cola Enterprises’ cross-listing on NYSE Euronext in Paris reflects its strong commercial presence in Europe. It will allow the company to extend the geographical scope of its investor base, offering optimal visibility and access to the euro zone capital markets.”
“Coca-Cola Enterprises is committed to delivering long-term shareowner value, and we have a consistent track record of solid growth in Europe,” said John F. Brock, Chairman and CEO of Coca-Cola Enterprises. “European investors will now have the opportunity to benefit more easily from our growth plans, and the outstanding brands, superior customer service and people who are at the core of our performance.”
A total of 48 companies are currently cross-listed on both NYSE and NYSE Euronext.