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Watsco, Inc. (NYSE:WSO) today celebrated its Fast Path cross-listing on NYSE Euronext in Paris as the ninth NYSE-listed company to take advantage of this convenient and cost-effective process made available by NYSE Euronext.
Watsco, Inc., based in Miami, Florida, is the largest provider of air conditioning and heating products with revenues of over US$2.6 billion and a compounded 10-year annual growth rate in earnings per share of 15%. Watsco’s strategy is to expand the size and scope of its network through a combination of adding products, locations and markets to its existing industry leading position.
“We have a long-standing valued partnership with Watsco and welcome the company’s decision to extend its NYSE listing onto NYSE Euronext in Paris,” said Dominique Cerutti, President and Deputy Chief Executive Officer, NYSE Euronext. “This cross-listing will give the company a highly visible global presence that will benefit Watsco and its shareholders across multiple continents and time zones.”
“We are pleased to be expanding Watsco’s visibility to investors in the European market. We believe our industry leading position, our long established track record of building shareholder value and the on-going opportunities to grow our company are all attractive fundamentals,” added Albert H. Nahmad, Watsco’s President and Chief Executive Officer.
This listing on NYSE Euronext in Paris will not alter Watsco’s share count, capital structure, or listing on the New York Stock Exchange, where Watsco also trades under the symbol “WSO.”
“We welcome Watsco as the ninth Fast Path listing onto NYSE Euronext’s European market,” said Ronald Kent, Head of International Listings, NYSE Euronext. “Watsco’s listing on NYSE Euronext in Paris will help garner additional visibility and provide greater access to Watsco’s shares among European market participants.”
A total of 48 companies are currently cross-listed on both NYSE and NYSE Euronext.
