Paris, 23 January 2012 – Solvay, a leading global player in chemicals already listed on NYSE Euronext in Brussels, today celebrated its listing in Paris.
Solvay offers a wide range of premium products and high-performance solutions that contribute to improving quality of life. The group operates through businesses operating in three sectors: Solvay Chemicals, a world producer of essential chemicals including soda ash, hydrogen peroxide and caustic soda, and specialty chemicals for fluorinated products; Solvay Plastics, a major player in specialty polymers and vinyls; and Rhodia, a world leader in specialty chemicals.
Solvay is headquartered in Brussels (Belgium), and employs 30,000 people worldwide. Following its recent acquisition of Rhodia, France is now the group’s largest single market in terms of both workforce, with 7,000 employees, and industrial operations, with 16 production sites and five research labs.
Listing of Solvay (ticker code: SOLB) on NYSE Euronext in Paris was through the admission to trading of the 84,701,133 shares making up the company’s capital. The indicative reference price for Solvay shares announced on the day before listing was €75.46 per share. Market capitalisation stands at €6.4 billion.
“NYSE Euronext in Paris extends a warm welcome to Solvay. We are delighted to reinforce our profitable, long-term partnership with a company that has sought double listing on our European market,” said Diederik Zandstra, Head of International Listings at NYSE Euronext. “Listing will raise Solvay’s visibility with investors and help generate the momentum it needs to deploy its development strategy. At the same time, Solvay’s listing is a success for NYSE Euronext, underscoring the attractiveness and benefits of our cross-border listing programme.”
Christian Jourquin, Chairman of Solvay’s Executive Committee, added: “Solvay has a long and very rich history in France. Our operations date back to 1872 and we’ve grown steadily since then. Listing on the Paris market is a natural step in light of our past experience and future prospects. It will give investors a new opportunity to become part of a sound and profitable chemical group with a strong commitment to sustainable development.”
To celebrate the listing, Christian Jourquin rang the bell to open trading on NYSE Euronext’s European market. He was accompanied by members of Solvay’s management team and financial and legal advisors, as well as NYSE Euronext’s listing team.
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Solvay is an international chemical group that is firmly committed to sustainable development and clearly focused on innovation and operational excellence. Its recent acquisition of specialty chemicals expert Rhodia created the industry’s largest player, generating over 90% of sales on markets where it is already one of the top three worldwide. Solvay offers a broad range of products that contribute to quality of life and its customers’ performance in markets ranging from consumer goods to automobiles, energy, water, the environment and electronics. Headquartered in Brussels, the group employs 30,000 people in 55 countries, and reported 2010 pro forma revenues of EUR 12 billion.