IntercontinentalExchange Group Inc.’s share price down, plans an IPO for Euronext in the second quarter

IntercontinentalExchange Group Inc. officially announced that it is planning an initial public offering for Euronext NV in Paris, Amsterdam and Brussels. The initial public offering is to take place during the second financial quarter after the Group finalizes a sale of about 33% stake to a financial group that includes BNP Paribas SA, Societe Generale SA, Espirito Santo SA, etc.

According to the statement made by IntercontinentalExchange Group Inc., the Euronext shares are planned to be initially traded on the stock markets in Brussels, Paris and Amsterdam once the initial public offering is carried out. A listing in Lisbon will be made before the fourth quarter of the current financial year. In addition, Euronext is applying for an approval of the regulatory authorities in order to operate at an exchange located in the U.K.

The Chief Executive Officer of Euronext – Mr. Dominique Cerutti said in a statement, which was cited by the Financial Times: “Euronext is at the centre of three converging trends, all of which create real opportunities for us as an independent exchange group. (…) An increased desire for transparency, a new level of demand for diverse sources of capital and the emerging economic recovery in Europe are driving more activity on to regulated exchanges and position Euronext well.”

As the IntercontinentalExchange Group Inc. announced in its statement, the companys investors have agreed not to sell their stakes in a period of three years after the initial public offering. The company also revealed that they will be offered shares at a limited discount to the final share price reached at the initial public offering.

IntercontinentalExchange did not reveal which stake of Euronext it will float at the time of the initial public offering and at what price. The company also did not comment on the eventual price expected.

IntercontinentalExchange Group Inc. was 0.61% down to close at 192.67 dollars per share yesterday, marking a one-year change of +14.49%. According to the information published on CNN Money, the 15 analysts offering 12-month price forecasts for IntercontinentalExchange Group Inc. have a median target of 230.00, with a high estimate of 250.00 and a low estimate of 209.00. The median estimate represents a +19.38% increase from the last price of 192.67.