The Fast Path listing enables US-listed, non-EU companies to use their existing filings with the Securities and Exchange Commission (SEC) for a listing on NYSE Euronext’s European market. This listing process can be used in connection with various transactions, including initial public offerings, follow-on capital raisings, spin-offs and direct listings without capital raising.
Chemtura Corporation develops, manufactures and markets innovative application-focused specialty chemical solutions and consumer products. The company holds a leading position in diversified industries, including automotive, electronics, pool and spa chemicals, agriculture and transportation. With approximately 4,500 employees worldwide, Chemtura Corporation manufactures products at 31 sites and sells products in over 100 countries.The Europe, Middle East and Africa region represented 30% of Chemtura’s 2011 sales.
“A Fast Path listing is yet another example of how NYSE Euronext enables companies to connect to other markets more effectively. We are delighted to welcome Chemtura Corporation to the community of NYSE Euronext listed companies”, said Diederik Zandstra, Head of International Listings at NYSE Euronext. “This operation will enable the company to gain access to the dynamic and vibrant European market, and increase its visibility enabling it to expand its operations and reinforce its global identity ”.
Craig A. Rogerson, Chairman, President and CEO of Chemtura Corporation, commented: “We are pleased to be cross-listing on NYSE Euronext in Paris. There are many exciting investment opportunities for us in Europe. All are important steps in building recognition as a truly global enterprise”.
Chemtura Corporation’s Common Stock was admitted to listing and trading on NYSE Euronext by direct listing of the existing 100,145,032 shares of which 98,665,045 are outstanding, making up the company's issued capital stock as of March 31, 2012.
The admission price of the company’s shares was set at €12.18 each. Chemtura Corporation’s market capitalization on the day of admission amounted to €1.22 billion.
Caroline Tourrier - email@example.com
Chemtura Corporation, with 2011 sales of $3 billion, is a global manufacturer and marketer of specialty chemicals, agrochemicals and pool, spa and home care products. Additional information concerning Chemtura is available at www.chemtura.com.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain “forward-looking statements” concerning Chemtura Corporation. These statements include but are not limited to our plans, objectives, expectations and intentions and other statements that contain words such as “expects,” “contemplates,” “anticipates,” “plans,” “intends,” “believes” and variations of such words or similar expressions that predict or indicate future events or trends, or that do not relate to historical matters. These statements are based on our current beliefs or expectations and are inherently subject to significant uncertainties and changes in circumstances, many of which are beyond our control. There can be no assurance that our beliefs or expectations will be achieved. Actual results may differ materially from our beliefs or expectations due to economic, business, competitive, market and regulatory factors. Important factors that could cause actual outcomes to differ materially from those in the forward-looking statements are described in our periodic reports, including Item 1A Risk Factors of our Annual Report on Form 10-K for the fiscal year ended December 31, 2011. This press release speaks only as of this date and Chemtura Corporation disclaims any duty to update the information herein.
About NYSE Euronext
This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning NYSE Euronext’s plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on NYSE Euronext’s current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause NYSE Euronext’s results to differ materially from current expectations include, but are not limited to: NYSE Euronext’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Euronext’s reference document for 2007 (“document de référence”) filed with the French Autorité des Marchés Financiers (Registered on May 15, 2008 under No. R. 08-054), 2008 Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission or the French Autorité des Marchés Financiers. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by NYSE Euronext that the projections will prove to be correct. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein.
i.e. the closing price of its shares on 31st May 2012 converted into Euros on the basis of the European Central Bank EUR/USD exchange rate of the same trading day