ICE Plans Euronext IPO In Q2 - Update

(RTTNews) - Stock exchange and clearing house operator IntercontinentalExchange Inc. (ICE), Tuesday said it plans an initial public offering of Euronext Group N.V., its European stock market operator, in the second quarter of 2014.

IntercontinentalExchange has not disclosed any expected price range or the proceeds it expects to raise in the IPO. IntercontinentalExchange had acquired NYSE Euronext for $11 billion in November 2013.

Euronext shares are to be listed in Paris, Amsterdam and Brussels, as well as in Lisbon before the fourth quarter.

Prior to the initial public offering, ICE intends to sell a joint stake of about 33 percent to a group of institutional investors at a limited discount to the IPO price. The investors will agree not to sell any of the ordinary shares it acquires for a period of three years from the pricing date of the IPO.

ICE also said it has completed the separation of the Euronext and NYSE Life businesses.

Euronext will offer ordinary shares, at a discount to the IPO price, to all of its eligible employees and eligible employees of its majority-owned direct and indirect subsidiaries in France, the Netherlands, Belgium, Portugal and the United Kingdom.

ICE is currently trading at $197.88, up $5.21 or 2.71%, on the NYSE.