.jpg)
NYSE Euronext’s Alternext today welcomed its first Chinese company with the initial listing in Paris of China Corn Oil, the largest specialist producer and exporter of edible corn oil in China. China Corn Oil raised €5 million through a private placement, allowing it to use the direct admission procedure on Alternext.
To celebrate the occasion, a listing ceremony took place in Paris with the presence of China Corn Oil CEO Wang Mingxing and NYSE Euronext Deputy CEO Jean-François Théodore as well as company executives and senior government officials.
“We are very pleased to welcome China Corn Oil, the first Chinese company on Alternext, and applaud its decision to have chosen our market for its initial and main listing”, said Jean-François Théodore, Deputy CEO of 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”.
“The listing of China Corn Oil on the Alternext market of NYSE Euronext will give us a highly visible global presence that will benefit our company as well as our clients and shareholders”, commented Wang Mingxing, CEO of China Corn Oil. “We are delighted with the success of this operation and want to thank every qualified investor that placed their trust on our company and acknowledged our high growth potential. Our objective is now to double our production capacity and meet with the very strong demands of our domestic market”.
“We are delighted that China Corn Oil has successfully listed on Alternext. This introduction of a Chinese company is the result of a strategy put in place over an 18 month period. We are committed to bringing other Chinese companies to the market with the support and expertise of our specialist team members and expect therefore, that there will be a growing number of new opportunities for investors”, said the management of Invest Securities Marc-Antoine Guillen and Jean-Emmanuel Vernay, acting as listing sponsor of China Corn Oil.
China Corn Oil has been advised by the law firm Taylor Wessing and chose Invest Securities as listing sponsor, a Euronext-recognised and approved intermediary. Invest Securities’s role was to help and advise China Corn oil to prepare for its Alternext listing. Invest Securites will carry on providing China Corn Oil with its expertise in order to support and guide them throughout their life as a listed company, making sure they comply with disclosure requirements.
China Corn Oil’s capital is now made up of 4,286,264 shares including 6% of free float, 15.2% held by investment funds and 78.8% held by the Shandong Sanxing Group, China Corn Oil’s parent company, specialized manufacturer of corn milling machinery. With today’s listing of China Corn Oil, Alternext now counts 121 listed companies, 7 of them from outside the Euronext area. Together, they have raised over €1.6 billion1 and their total market capitalization stands at €5 billion.
NYSE Euronext now has 58 companies listed from the Greater China Region, including 44 from Mainland China, 9 from Hong Kong, and 5 from Taiwan. The total global market capitalization of the 44 NYSE Euronext-listed Chinese companies from the mainland is $1.5 trillion, and for the 58 companies from greater China, $1.6 trillion.
