.jpg)
Toreador Resources Corporation, an international oil and gas, exploration and production company active in the Paris basin, France, completed its Fast Path listing on NYSE Euronext in Paris today, making it the tenth(*) company to take advantage of this streamlined, cost-effective process since it was made available by NYSE Euronext in 2008.
Toreador Resources Corporation’s (ticker symbol: TOR) Common Stock was admitted to Listing and Trading on the Professional Segment of NYSE Euronext in Paris by direct listing of the existing 25,828,705 shares making up the company's capital stock. The admission price of the company’ shares was set at €11.56 each, i.e. the closing price of its shares on 16 December 2010 converted into Euros on the basis of the European Central Bank EUR/USD exchange rate of the same trading day. Toreador Resources’ market capitalization on the day of admission amounted to €299 million.
“We are very pleased to welcome Toreador Resources Corporation on NYSE Euronext in Paris and to give the company greater access to European and other international investors in the Eurozone,” said Ronald Kent, Group Executive Vice President and Head of International Listings at NYSE Euronext. “This success bears out the global strategy towards international listings we set up two years ago and the superior services, market quality and brand visibility provided by listing on NYSE Euronext markets. ”
Craig McKenzie, President and CEO of Toreador Resources Corporation, added: “In addition to providing increased accessibility and improved liquidity for European investors, our listing in Paris reflects Toreador’s next step in the creation of a European-focused E&P company. With an asset base currently focused on the Paris Basin, we look forward to the broader participation of European investors as we embark on a six well drilling program to evaluate the Liassic shale oil source rock system in early 2011 with our partner Hess.”
(*) Companies that have already used the Fast Path listing procedure include: Philip Morris International (PM, NYSE Euronext – March 2008), Anheuser-Busch (BUD, NYSE Euronext – April 2008), Companhia Vale do Rio Doce (VALE, NYSE Euronext – July 2008), Cliffs Natural Resources (CLF, NYSE Euronext – April 2009), Weatherford International (WFT, NYSE Euronext – October 2009), PartnerRe (PRE, NYSE Euronext – December 2009), AgFeed Industries, Inc. (ALHOG, NYSE Euronext – March 2010), Knight Capital Group (KCG, NYSE Euronext – May 2010) and Watsco (WSO, NYSE Euronext – October 2010).
