As of May 5, 2003, Stockholmsbörsen will offer trading in the shares of Pfizer, the world's largest pharmaceuticals company, whose acquisition of Pharmacia was recently finalized. Trading in Pfizer shares will be conducted in Swedish kronor (SEK) via Stockholmsbörsen's SAXESS™ trading system. To ensure that liquidity in the Pfizer shares is satisfactory, Enskilda Securities will function as marketmaker will thus make buy and sell prices continuously available. "Stockholmsbörsen wants to enable Swedish shareholders to engage in cost-effective trading in Pfizer shares. That is why we are offering this solution despite the fact that Pfizer is not listed on Stockholmsbörsen," says Simon Nathanson, Executive Vice President of Stockholmsbörsen.
Price information pertaining to trading in Pfizer shares on Stockholmsbörsen will be distributed in the same manner as price information about other shares traded on Stockholmsbörsen. Price information about Pfizer shares will be available on the new Xternal list.
Pfizer's primary listing is on the New York Stock Exchange (NYSE) and the shares will not be listed on Stockholmsbörsen. Accordingly, no agreement will exist between Stockholmsbörsen and Pfizer, which means, among other effects, that Stockholmsbörsen's regulations in regard to the disclosure of information to the Swedish market will not apply. Investors will be able to obtain information about events that have an impact on the share price and about other matters, such as financial reports, on the company's Swedish website (www.pfizer.se) or from other public sources used to distribute information about American companies. Owners of Swedish VPC-registered Pfizer shares will not be summoned to, or be permitted to vote at, the company's general meetings. However, such shareholders will always receive dividends and the value of any allotments made, although they will not be permitted to exercise rights or warrants issued by the company. In order to manage their Pfizer shares and thus be able to trade the shares on Stockholmsbörsen, share owners must either have a custody account or an account similar to a custody account (capital market account or service account, for example).
