Euronext begins IPO valued at up to $2.4B

|By:, SA News Editor

IntercontinentalExchange (ICE) has begun the IPO of its stock market operator Euronext, valuing it at up to €1.75B ($2.4B).

ICE is selling a stake of as much as 60.15% of Euronext at €19-25 a share. Assuming exercise of an over-allotment option, the transaction will raise as much as €1.16B ($1.58B).

The offer begins today and is scheduled to end June 18 for retail investors and June 19 for institutional investors. Trading is expected to start June 20.