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AMG Advanced Metallurgical Group N.V. (AMG), one of the world’s leading producers of metallurgical products and systems, was successfully listed today on NYSE Euronext’s Amsterdam market.
AMG was floated by Safeguard International Fund, a private equity fund, and placed a total of 13,064,752 shares with an introductory price of €24 to raise €314 million in fresh capital. Based on the first price of €28 the market capitalisation of AMG amounts to €750 million.
AMG brings the total number of IPOs on the Amsterdam market in 2007 to six, with €2.1 billion raised. The total market capitalisation added to the Amsterdam market so far this year now stands at over €17 billion, exceeding the amount registered with all new listings in 2006. Since the beginning of the year, placements on all Euronext markets now total €4.8 billion and have added more than €50 billion to total market capitalization.
“We are very pleased to welcome AMG to our market. Its IPO is further evidence of the strong interaction between private equity and the stock market. Private equity funds raise money via IPOs, acquire listed companies, and then use the stock exchange again as an exit route from successful investments,” said Joost van der Does de Willebois, chairman of the Amsterdam market and member of the Management Committee of NYSE Euronext.
