NYSE Euronext welcomes Coca-Cola Enterprises, Inc. to its European market
One of the world’s largest independent Coca‑Cola bottlers uses Fast Path to cross-list in Europe
Paris - Coca-Cola Enterprises, Inc. (ticker symbol: CCE), one of the world’s largest independent Coca‑Cola bottlers, celebrated its Fast Path secondary listing on NYSE Euronext in Paris today. CCE is the first NYSE-listed company in 2011 to take advantage of this streamlined, cost-effective process and the eleventh(*) to do so since the facility was made available by NYSE Euronext in 2008.
The decision for Coca-Cola Enterprises to list on NYSE Euronext in Paris followed the separation of its European operations from its North American business, which was assumed by The Coca-Cola Company, and its simultaneous acquisition of The Coca-Cola Company’s bottling operations in Norway and Sweden in October 2010. Coca-Cola Enterprises employs 13,500 employees across Western Europe, where the company distributes a wide range of beverages, including regular, no- and low-calorie sparkling, energy and sports drinks, waters, juices and juice drinks, coffees and teas.
Coca-Cola Enterprises’ Common Stock was admitted to listing and trading on NYSE Euronext by direct listing of the existing 340,763,680 shares making up the company’s capital stock.
The admission price of the company’ shares was set at €20.73 each, i.e. the closing price of its shares on 23 May 2011 converted into Euros on the basis of the European Central Bank EUR/USD exchange rate of the same trading day. Coca-Cola Enterprises’ market capitalization on the day of admission amounted to €7.06 billion.
“We would like to extend a warm welcome to Coca-Cola Enterprises, a strong addition to the international companies already listed on the professional segment of NYSE Euronext in Paris,”said Dominique Cerutti, President and Deputy CEO of NYSE Euronext.”We are delighted that Coca-Cola Enterprises has chosen Paris for its international listing. Such a high-profile float is a major win for the French financial market and we are confident that more global firms will seek to take advantage of the profile and access to capital that a NYSE Euronext in Paris listing offers.”
Ronald Kent, Group Executive Vice President and Head of International Listings at NYSE Euronext, added: “Coca-Cola Enterprises’ cross-listing on NYSE Euronext in Paris reflects its strong commercial presence in Europe. It will allow the company to extend the geographical scope of its investor base, offering optimal visibility and access to the euro zone capital markets.”
“Coca-Cola Enterprises is committed to delivering long-term shareowner value, and we have a consistent track record of solid growth in Europe,” said John F. Brock, Chairman and CEO of Coca-Cola Enterprises. “European investors will now have the opportunity to benefit more easily from our growth plans, and the outstanding brands, superior customer service and people who are at the core of our performance.”
A total of 48 companies are currently cross-listed on both NYSE and NYSE Euronext.
Note to the Editor:
Background about NYSE Euronext’s Fast Path listing
The Fast Path listing enables US-listed, non-EU companies to use their existing filings with the Securities and Exchange Commission (SEC) for a listing on NYSE Euronext’s European market. This listing process can be used in connection with various transactions, including IPO, secondary capital raising, spin-off or technical listing.
Background about the professional segment of NYSE Euronext’s Paris market
The professional segment of NYSE Euronext‘s Paris market is designed to meet the needs of international companies and is aimed at professional investors only. The segment is part of the Regulated Market of NYSE Euronext in Paris. It has simplified listing requirements including the use of the English language for all documentation, streamlined permanent and periodic reporting requirements and simplified and accelerated review procedures.
Background about Cross-Listing on NYSE Euronext European markets
· NYSE Euronext is the first and only exchange group to offer a truly global cross-market listing, trading and visibility platform, providing cost-effective, convenient access to investors and business partners in the US and in Europe.
· NYSE Euronext is the first exchange group to offer companies the ability to trade and raise capital in € and $ and reach investors and constituents directly across continents and multiple time zones, regions and countries.
· Valuable for any company looking to enhance its global profile, support an international business or expand its non-US investor base, a Fast Path listing provides an easy, cost-effective way to gain a European trading presence. Euronext regulators accept documentation, previously filed with the SEC, to meet the EU Prospectus Directive. With Fast Path, a company avoids the need to draft and translate a separate prospectus in order to be admitted to trading. Documents filed with the SEC serve as the primary component to obtain approval from the competent Euronext regulator. The SEC documentation is combined with a summary “wrapper”, addressing any additional European and local requirements, forming the company’s European prospectus.
About NYSE Euronext
NYSE Euronext (NYX) is a leading global operator of financial markets and provider of innovative trading technologies. The company’s exchanges in Europe and the United States trade equities, futures, options, fixed-income and exchange-traded products. With approximately 8,000 listed issues (excluding European Structured Products), NYSE Euronext’s equities markets – the New York Stock Exchange, NYSE Euronext, NYSE Amex, NYSE Alternext and NYSE Arca – represent one-third of the world’s equities trading, the most liquidity of any global exchange group. NYSE Euronext also operates NYSE Liffe, one of the leading European derivatives businesses and the world’s second-largest derivatives business by value of trading. The company offers comprehensive commercial technology, connectivity and market data products and services through NYSE Technologies. NYSE Euronext is in the S&P 500 index, and is the only exchange operator in the Fortune 500. For more information, please visit: www.nyx.com.
About Coca-Cola Enterprises, Inc
Coca-Cola Enterprises, Inc. is the leading Western European marketer, distributor, and producer of bottle and can liquid nonalcoholic refreshment and one of the world’s largest independent Coca-Cola bottlers. CCE is the sole licensed operator for products of The Coca-Cola Company in Belgium, continental France, Great Britain, Luxembourg, Monaco, the Netherlands, Norway and Sweden. For more information about our company and our corporate responsibility and sustainability efforts, please visit our website at www.cokecce.com.
(*) Companies that have already used the Fast Path listing procedure include: Philip Morris International (PM, NYSE Euronext – March 2008), Anheuser-Busch (BUD, NYSE Euronext – April 2008), Companhia Vale do Rio Doce (VALE, NYSE Euronext – July 2008), Cliffs Natural Resources (CLF, NYSE Euronext – April 2009), Weatherford International (WFT, NYSE Euronext – October 2009), PartnerRe (PRE, NYSE Euronext – December 2009), AgFeed Industries, Inc. (ALHOG, NYSE Euronext – March 2010), Knight Capital Group (KCG, NYSE Euronext – May 2010), Watsco (WSO, NYSE Euronext – October 2010) and Toreador Resources Corporation (TOR, NYSE Euronext – December 2010).
Provider : NYSE Euronext
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