Europe News

Euronext launches IPO, values itself at up to $2.38B

The Euronext flag hangs outside the NYSE.
Adam Jeffery | CNBC

Stock market operator Euronext aims to raise between 880 million euros ($1.23 billion) and 1.158 billion euros in an initial public offering, it said on Tuesday, valuing it at up to 1.75 billion euros ($2.38 billion).

Euronext said it expected its IPO to be priced at 19-25 euros per share.

Euronext's parent Intercontinental Exchange will offer up to 60.15 percent of the capital of the company. A group of institutional will take a 33.36 percent stake in the market operator at a 4 percent discount to the IPO price.

In addition, certain institutional investors have committed to purchase 2 percent of the shares of IPO price.

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