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IPO could value Euronext exchange at $2.4 billion

By WTOP Staff

PARIS (AP) — IntercontinentalExchange Group, Inc. says its stock exchange operator Euronext could be valued at up to 1.75 billion euros ($2.4 billion) in its planned initial public offering.

Euronext is becoming independent again after parent company ICE last month announced plans to float it. A pan-European company, Euronext operates exchanges in Paris, Amsterdam, Brussels and Lisbon.

Euronext said in a statement Tuesday that the price range for the IPO is between 19 and 25 euros ($25.9 to $34) a share, which would value it at between 1.33 billion and 1.75 billion euros ($1.81 billion and $2.4 billion).

Euronext merged with the New York Stock Exchange, or NYSE, in 2006, and the joint company was bought by Atlanta-based ICE last year in a deal worth about $8 billion.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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