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Euronext IPO is fully subscribed - sources
June 17, 2014 / 4:06 PM / 3 years ago

Euronext IPO is fully subscribed - sources

PARIS, June 17 (Reuters) - European financial markets operator Euronext’s initial public offering (IPO) is fully subscribed with good demand, sources with knowledge of the transaction told Reuters on Tuesday.

Euronext unveiled plans last week to raise up to 1.16 billion euros in an IPO valuing the firm at 1.75 billion euros ($2.38 billion).

“There’s been brisk demand for the shares,” one source said.

A spokeswoman for Euronext declined to comment.

Euronext’s parent Intercontinental Exchange is to offer up to 60 percent of the capital of the group in the IPO, or 42.1 million shares, with an over-allotment option for up to 10 percent. A group of European institutional investors will take a 33.4 percent stake.

The shares are expected to be priced at between 19 and 25 euros per share, and are due to begin trading on Friday on the regulated markets of Euronext in Paris, Amsterdam and Brussels under the symbol “ENX”. ($1 = 0.7345 Euros) (Editing by James Regan)

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