NYSE Euronext (NYX) Gets $544M for Stock Sale
Stock exchange operator NYSE Euronext said Friday it will receive 399 million euros ($544.5 million) from clearing house LCH.Clearnet Group Ltd., which redeemed and repurchased shares held by the stock exchange operator.
LCH.Clearnet redeemed all its outstanding convertible preference shares held by NYSE Euronext at a value of 199 million euros ($271.5 million). The company also repurchased 20 million ordinary shares held by NYSE Euronext for 10 euros ($13.65) per share, which equals the market value of the shares when issued in December 2003.
Under the terms of the agreement, LCH.Clearnet will also buy back an additional 6.2 million ordinary shares from NYSE Euronext at a price of 61.8 million euros ($84.3 million) by April 2008.
After the second repurchase, NYSE Euronext will retain a 5 percent stake in LCH.Clearnet and will have the right to appoint one director to its board.
NYSE Euronext shares gained $1.88, or 2.5 percent, to $75.83 in afternoon trading. The stock has traded between $56.05 and $112 during the past 52 weeks.
LCH.Clearnet redeemed all its outstanding convertible preference shares held by NYSE Euronext at a value of 199 million euros ($271.5 million). The company also repurchased 20 million ordinary shares held by NYSE Euronext for 10 euros ($13.65) per share, which equals the market value of the shares when issued in December 2003.
Under the terms of the agreement, LCH.Clearnet will also buy back an additional 6.2 million ordinary shares from NYSE Euronext at a price of 61.8 million euros ($84.3 million) by April 2008.
After the second repurchase, NYSE Euronext will retain a 5 percent stake in LCH.Clearnet and will have the right to appoint one director to its board.
NYSE Euronext shares gained $1.88, or 2.5 percent, to $75.83 in afternoon trading. The stock has traded between $56.05 and $112 during the past 52 weeks.
Labels: NYSE Euronext, NYX
posted by Stock Administrator @ 4:16 PM
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