News Column

Euronext IPO priced at €20 per Share

July 1, 2014



By a News Reporter-Staff News Editor at China Weekly News -- Intercontinental Exchange (NYSE: ICE), the leading global network of exchanges and clearing houses, announced the pricing of the initial public offering (IPO) of the ordinary shares (the Shares) of Euronext N.V. (Euronext or the Company), the pan-European exchange group.

Euronext's ordinary shares will be listed and admitted to trading under the symbol "ENX" on Euronext Paris, Euronext Amsterdam and Euronext Brussels as of June 20, 2014 (on an "as-if-and-when-delivered" basis). Euronext also intends to list on Euronext Lisbon after the IPO. Highlights IPO price set at 20 per Share.

All of the 42,248,881 offered Shares were sold in the IPO, representing 60.36% of the total issued ordinary share capital of the Company.

Listing and first trading in the Shares (on an "as-if-and-when-delivered" basis) on the regulated markets of Euronext in Paris, Amsterdam and Brussels under the symbol "ENX" are expected to commence on June 20, 2014.

Euronext intends to list on Euronext Lisbon after the IPO and before the fourth quarter of 2014. Retail Offering and Institutional Offering 40,852,883 Shares have been allocated to the institutional offering (817 million or 96.7% of the offered Shares) and 1,395,998 Shares have been allocated to the retail offering (27.9 million or 3.3% of the offered Shares).

ICE has granted the joint global coordinators an over-allotment option of up to 4,210,823 additional Shares, which can be exercised to cover short positions resulting from any over-allotments made in connection with the IPO or stabilisation transactions. If the over-allotment option is exercised in full, the IPO will represent 66.37% of the total issued ordinary share capital of Euronext, and ICE will no longer hold any shares in Euronext. Reference Shareholders A group of institutional investors (the Reference Shareholders) acquired on June 13, 2014 an aggregate of 33.36% of the Shares at a 4% discount to the IPO price for a price of 19.20 per Share. Employee Offering In addition, the Company sold 188,296 ordinary shares at 16 per ordinary share, a 20% discount to the IPO price, to its eligible employees and those of its majority-owned direct and indirect subsidiaries in Belgium, France, the Netherlands, Portugal and the United Kingdom. About Intercontinental Exchange Intercontinental Exchange, Inc. (NYSE: ICE) is the leading network of regulated exchanges and clearing houses for financial and commodity markets. ICE delivers transparent, reliable and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, LIFFE and Euronext.

Trademarks of ICE and/or its affiliates include IntercontinentalExchange, ICE, ICE block design, NYSE Euronext, NYSE, New York Stock Exchange, LIFFE and Euronext. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located at https://www.theice.com/terms.jhtml and http://www.nyx.com/terms-use. Disclaimer This document is an announcement and not a prospectus for the purposes of applicable measures implementing Directive 2003/71/EC (and amendments thereto, including European Directive 2010/73/EU, to the extent implemented in the relevant Member State (the "Prospectus Directive")), and as such does not constitute an offer to sell or the solicitation of an offer to purchase securities. A prospectus prepared pursuant to the Prospectus Directive was approved by the AFM on 6 June 2014 and is available on the AFM's website (www.afm.nl) and on the Company's website (www.euronext.com/ipo). Any offer of securities to the public that may be deemed to be made pursuant to this communication in any Member State (other than Belgium, France, the Netherlands and Portugal) that has implemented the Prospectus Directive (together with any applicable implementing measures in any Member State) is addressed solely to qualified investors (within the meaning of Article 2(1)(e) of the Prospectus Directive) in that Member State.

This announcement does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any shares or any other securities, nor shall it (or any part of it) or the fact of its distribution form the basis of, or be relied on in connection with, any contract therefor. The IPO and the distribution of this announcement and other information in connection with the IPO in certain jurisdictions may be restricted by law and persons into whose possession this announcement or any document or other information referred to herein comes should inform themselves about, and observe, any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

This communication is directed only at (i) persons who are outside the United Kingdom or (ii) persons who have professional experience in matters relating to investments falling within Article 19(1) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") and (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as "relevant persons"). Any investment activity to which this communication relates will only be available to and will only be engaged in with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

Neither this announcement, nor any copy of it may be taken, transmitted or distributed, directly or indirectly, into Canada, Australia or Japan or to any persons in any of those jurisdictions or any other jurisdictions where to do so would constitute a violation of the relevant laws of such jurisdiction. The securities referred to herein have not been and will not be qualified under the applicable securities laws of Canada or Japan and, subject to certain exceptions, may not be offered or sold within Canada, Australia or Japan or to any national, resident or citizen of Canada, Australia or Japan.

This announcement does not constitute an offer for sale of, or a solicitation of an offer to purchase or subscribe for, any securities in the United States. No securities of the Company have been, or will be, registered under the Securities Act, and the securities referred to herein may not be offered or sold in the United States absent an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. There will be no public offering of the securities in the United States.

Keywords for this news article include: Asia, Japan, Banking and Finance, Intercontinental Exchange.

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Source: China Weekly News


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