According to a company announcement, the Intercontinental Exchange (NYSE: ICE) is marking its final exit from its investment in Euronext N.V. The firm sold its remaining 6% stake of Euronext’s share capital totaling 4.2 million shares to institutional investors.
The company used an accelerated bookbuild technique to dispose of its shares and has sold them for €96.8 million.
The Intercontinental Exchange Inc (NYSE:ICE) . Since then, the company’s CEO, Jeffrey Sprecher, has subsequently decided to float its European unit, while keeping the NYSE.
ICE received a waiver of the lock-up agreement entered into at the time of the Euronext initial public offering in June 2014, which was due to expire on December 21, 2014.
Following the sale, the Intercontinental Exchange (NYSE:ICE) will no longer hold any of Euronext’s share capital and voting rights. The transaction marks the final exit from Euronext in line with its previously announced strategy.
Euronext is the operator of stock markets in Amsterdam, Brussels and Paris. The company’s shares traded close to 4% higher throughout the day while the company’s valuation has risen 23% since the initial public offering in June.
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