European financial markets operator Euronext has unveiled plans to raise up to 1.16 billion euros in an initial public of shares. <br /><br />The IPO will launch on June 20 with an expected share price of 19 to 25 euros. That would value the company at 1.75 billion euros.<br /><br />It also forecast a return to revenue growth over the next three years in its operations of equity, fixed-income and derivatives markets in Paris, Amsterdam, Brussels and Lisbon..<br /><br />IntercontinentalExchange acquired NYSE Euronext in an $11 billion euro deal deal last year. At that time the US exchanges group committed to spinning off Euronext.<br /><br />A group of European institutional investors will take a one third stake to address local regulators’ concerns that it could be snapped up by another foreign firm.<br /><br />In addition, French utility GDF Suez and Belgian lender KBC Bank have agreed to take a stake of about 1.0 percent each in Euronext.<br /><br />“We’re delighted to have these ‘reference shareholders’, it’s a great sign of confidence, it’s great for the prospects of Euronext,” Chief Executive Dominique Cerutti told reporters at a news conference.<br /><br />Euronext, which mostly competes with the London Stock Exchange Group, Deutsche Boerse and BATS Chi-X Europe, 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.<br /><br />Britain’s financial regulator recently gave it the go-ahead to operate as a full exchange in the UK.
