* Shares priced at 20 euros a share vs range 19-25 euros
* Shares to start trading on Euronext on Friday
(Adds detail, background)
PARIS, June 19 Shares of stock market operator
Euronext will be priced at 20 euros each - at the lower
end of a previously announced price range of 19-25 euros a share
- when they make their market debut on Friday, parent
Intercontinental Exchange said.
All 42.25 million shares offered were sold, representing
60.36 percent of the capital, ICE said in a statement, implying
a market value of 1.4 billion euros ($1.91 billion) for 100
percent of the company.
ICE has granted an over-allotment option of up to 4.21
million additional shares. If fully used, the IPO will represent
66.37 percent of the capital of Euronext, and ICE will no longer
hold any shares in the company, ICE added.
ICE acquired NYSE Euronext in an $11-billion deal last year.
The U.S. exchanges group committed to spinning off Euronext at
Euronext, which mostly competes with the London Stock
Exchange Group, Deutsche Boerse and BATS
Chi-X Europe, a unit of U.S. exchange operator BATS Global
Markets, has said it aims to diversify its products,
expanding its range of derivatives and exchange-traded funds,
and regain market share in Europe's recovering IPO market.
The exchange group has said it aims to deliver 5 percent
annual revenue growth in the years up to 2016, reversing
declines in both 2012 and 2013.
A group of European institutional investors bought a 33.4
percent stake in the market operator last Friday at a 4 percent
discount to the IPO price, or 19.20 euros a share, in a move
designed to allay local regulators' concerns that the
pan-European bourse could be snapped up by another foreign firm.
The investors, which have agreed to hold their shares for a
minimum of three years, include French banks BNP Paribas
and Societe Generale, Dutch firm ABN Amro,
Belgian government investment vehicle SFPI, European clearing
house Euroclear, and a unit of Portugal's Banco BPI.
French utility GDF Suez and Belgian lender KBC Bank
NV have also agreed to take a stake of about 1 percent
each in Euronext, which operates equity, fixed-income and
derivatives markets in Paris, Amsterdam, Brussels and Lisbon,
and has recently received approval to operate as a full exchange
by Britain's financial regulator.
The shares will start by trading on Euronext in Paris,
Amsterdam and Brussels on Friday, and subsequently in Lisbon
before the fourth quarter, ICE said.
ABN AMRO Bank, JPMorgan and Societe Generale are acting as
joint global coordinators for the IPO.
($1 = 0.7336 Euros)
(Reporting by James Regan and Blaise Robinson; Editing by