Euronext Welcomes IFF to Its Paris Market
June 19 2015 - 6:11AM
Business Wire
One of the world's leading Flavor and Fragrance
companies, International Flavors & Fragrances Inc., uses Fast
Path to cross-list in Paris
Regulatory News:
International Flavors & Fragrances Inc. (Paris:IFF), a
leading global creator of flavors and fragrances for consumer
products, today celebrated its cross-listing in Paris (ticker code:
IFF) using the Euronext Paris Fast Path procedure. IFF is the first
US-listed company to make use of this streamlined, cost-efficient
process in 2015, and the fifteenth to do so since Fast Path was
first introduced on Euronext markets in 2008.
Listing with Fast Path allows US-listed issuers that are
incorporated outside the European Economic Area to use their SEC
filings as the basis of their listing prospectus on Euronext
markets. Fast Path can be used in connection with a range of
operations, including cross-listings, rights issues, spin-offs,
direct listings without capital raising and more.
International Flavors & Fragrances Inc. is a leading global
creator of flavors and fragrances used in a wide variety of
consumer products. Consumers experience these unique scents and
tastes in fine fragrances and beauty care, detergents and household
goods, as well as beverages, sweet goods and other food products.
The Company leverages its competitive advantages of consumer
insight, research and development, creative expertise, and customer
intimacy to provide customers with innovative and differentiated
product offerings. IFF has more than 6,200 employees working in 32
countries worldwide.
IFF was listed on Euronext Paris through the admission to
trading of the 115,995,113 shares making up its equity. The
admission and issue price was set at €99.39 per share. Market
capitalization on the day of listing was around €11.5 billion.
“Cross-Listing on Euronext Paris is another important step in
facilitating broader ownership of IFF shares in the European
capital markets and reflects our company’s historic roots, strong
European ties, and global presence,” said IFF CEO and Chairman
Andreas Fibig. “We are thrilled to give European investors the
opportunity to more broadly participate in our recently announced
Vision 2020 strategy. We believe our relentless focus on innovation
and differentiation will accelerate growth and continue to create
significant value for all of our shareholders.”
Anthony Attia, Chairman and CEO of Euronext Paris, noted “We
would like to welcome International Flavors & Fragrances Inc.
as it joins the long list of international businesses already
listed on Euronext markets. We are delighted that IFF chose Paris
for its cross-listing. We are convinced that other international
companies will also seek to benefit from the increased visibility
and access to capital that come with listing on Euronext
Paris.”
Albert Ganyushin, Head of International Listings at Euronext,
added: “This new listing through our Fast Path process is a good
example of our ability to connect leading companies with global
investors effectively and efficiently and a demonstration of the
attractiveness of the Euronext platform as a leading exchange in
Europe. This listing will give IFF broad access to European
investors, while boosting its profile and visibility to help expand
its business and strengthen its global presence.”
About International Flavors & Fragrances Inc.
International Flavors & Fragrances Inc. (NYSE:IFF) is a
leading global creator of flavors and fragrances used in a wide
variety of consumer products. Consumers experience these unique
scents and tastes in fine fragrances and beauty care, detergents
and household goods, as well as beverages, sweet goods and food
products. The Company leverages its competitive advantages of
consumer insight, research and development, creative expertise, and
customer intimacy to provide customers with innovative and
differentiated product offerings. A member of the S&P 500
Index, IFF has more than 6,200 employees working in 32 countries
worldwide. For more information, please visit our website at
www.iff.com; follow us on Twitter and LinkedIn.
About Euronext
Euronext is the primary exchange in the euro zone with over
1,300 issuers worth €3.2 trillion in market capitalisation, an
unmatched blue-chip franchise consisting of 24 issuers in the EURO
STOXX 50® benchmark and a strong, diverse domestic and
international client base.
Euronext operates regulated and transparent equity and
derivatives markets. Its total product offering includes Equities,
Exchange Traded Funds (ETFs), Warrants & Certificates, Bonds,
Derivatives, Commodities and Indices. Euronext also leverages its
expertise in running markets by providing technology and managed
services to third parties. Euronext operates regulated markets,
Alternext and the Free Market; in addition it offers EnterNext,
which facilitates SMEs’ access to capital markets.
Disclaimer
This press release is for information purposes only and is not a
recommendation to engage in investment activities. This press
release is provided “as is” without representation or warranty of
any kind. While all reasonable care has been taken to ensure the
accuracy of the content, Euronext does not guarantee its accuracy
or completeness. Euronext will not be held liable for any loss or
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This press release speaks only as of this date. Euronext refers
to Euronext N.V. and its affiliates. Information regarding
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at www.euronext.com/terms-use.
© 2015, Euronext N.V. - All rights reserved.
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International Flavors & Fragrances Inc.Michael DeVeau,
212-708-7164Michael.DeVeau@iff.comorEuronextVanessa Stephan, +33
(0)1 70 48 24 42vstephan@euronext.comorAïchata Tandjigora, +33 (0)1
70 48 24 43atandjigora@euronext.com
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