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Aluminium product manufacturer lists on New York and Paris Euronext
New York, Paris – 27 May 2013 – NYSE Euronext (NYX) today announced that Constellium N.V. (ticker: CSTM), a global leader in innovative and high value‐added aluminium products, celebrated its first days of trading and dual listing on its markets in Europe and the United States.
Constellium develops solutions for a broad scope of markets and applications, including aerospace, automotive, packaging and industry. With around 8,900 employees, Constellium generated €3.61 billion of revenue in 2012.
Constellium began trading on the New York Stock Exchange (NYSE) on 23 May 2013 and on the professional segment of NYSE Euronext in Paris today through a public offering in the United States.The listing raised a total of around €258 million/$333 million, of which the company will receive approximately $200 million before underwriters’ discounts and commissions and offering expenses.
The final offering price of Constellium was set at €11.61/$15 per share. Market capitalisation stood at around €1.2 billion/$1.5 billion on the day of listing.
Pierre Vareille, Chief Executive Officer of Constellium, said that this was “a significant milestone in the life of Constellium that we believe will consolidate our company’s future development. Our dual listing reflects both our global positioning and our strong roots in Europe in general and France in particular.”
“We are delighted to begin a long‐term relationship with Constellium and to work with the company as it enters a new stage in its development. Listing is a major step that will raise Constellium’s profile by giving it access to a platform offering exceptional visibility with investors around the world,” added Scott Cutler, Executive Vice President and Head of Global Listings at NYSE Euronext.
Marc Lefèvre, Head of European Business Development and Client Coverage, Listings Europe, at NYSE Euronext, commented that “We would like to extend a warm welcome to Constellium, which joins the long list of truly international companies already traded on NYSE Euronext’s professional segment in Paris. Listing underscores the energy driving Constellium, the company’s openness to the world, and its commitment to growth that serves its customers, partners and employees.”
