LONDON (Reuters) - Euronext, which is being spun off by IntercontinentalExchange, will be listed on three of its exchanges in a stock market listing scheduled for June, a source familiar with the matter said on Wednesday.
Euronext shares will be quoted on its markets in the Netherlands, Belgium and France following the initial public offering (IPO), which sources have said could value the company at 1.5 billion euros (1.23 billion pounds).
It will later also list its shares on its Lisbon exchange, the source added.
A spin-off of Euronext has been expected since ICE's $11 billion (6.4 billion pounds)deal last year to take over NYSE Euronext, parent company of the New York Stock Exchange.
The source said Euronext's London exchange will seek recognised investment exchange (RIE) status from Britain's Financial Conduct Authority following the spin off. The London market previously operated under an exchange license owned by Liffe - the derivatives exchange now held by ICE.
ICE and Euronext will maintain some links, with the European exchange group planning to rent space in the futures giant's UK-based data centre in an effort to minimise costs, the source said.
(Reporting by Clare Hutchison, editing by Louise Heavens and Alexander Smith)
- Investment & Company Information