Eurotunnel abandons London Stock Exchange
The Channel Tunnel will notch up another landmark next month when its owner, Groupe Eurotunnel, abandons the London Stock Exchange to become the first company to trade on the new NYSE Euronext London platform when it opens on 19 July.
The new market is an offshoot of the New York Stock Exchange. NYSE Euronext is already established in mainland Europe and has a longstanding presence in the UK market through NYSE Liffe, its international derivatives exchange.
Groupe Eurotunnel currently has dual listing on the LSE and NYSE Euronext Paris.
Eurotunnel said that admission to trading on NYSE Euronext London next month would allow it to benefit from improved liquidity and direct, convenient access to a broad investor base across Europe, thanks to the strength and visibility of NYSE Euronext’s European markets. In addition, the transfer offers investors a single trading platform with Groupe Eurotunnel being traded on NYSE Euronext's single order book, at a single price (in euros).
Jacques Gounon, chairman and CEO of Groupe Eurotunnel SA, said “The Channel Tunnel is a worldwide achievement which attracts the best class of investors from around the world. Today’s move will allow investors to have easier access to Groupe Eurotunnel shares.”
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This article was published on 20/06/2012 (last updated on 20/06/2012).