Global biopharmaceutical company cross-lists and rings the Opening Bell SM in New York
NYSE Euronext Welcomes AbbVie to Its European and U.S. Markets
New York, Paris, January 2, 2013 – Today, AbbVie (ticker symbol: ABBV), a global research-based biopharmaceutical company formed in 2013 following separation from Abbott (ticker symbol: ABT), marked its cross-listing on NYSE Euronext (NYX) markets in Europe and the United States by ringing the Opening Bell in New York. AbbVie used the streamlined, cost-effective Fast Path process to cross-list in Europe, making it the fifteenth company to take advantage of this procedure since it was made available by NYSE Euronext in 2008.
AbbVie’s Common Stock was admitted to listing and trading on the NYSE Euronext markets by direct listing of its approximately 1.58 billion existing shares making up its capital and representing a market capitalization of €40 billion/ $54 billion.
Richard Gonzalez, CEO of AbbVie, said: “Today AbbVie launches with an outstanding portfolio, a solid pipeline and enthusiastic people who will serve patients and deliver growth. With those assets and a relentless focus on innovation we intend to create significant value for our shareholders.”
“We welcome AbbVie to the community of NYSE Euronext listed companies and applaud its decision to cross-list on our European and U.S. markets which will reinforce its global identity”, added Scott Cutler, EVP, Head of Global Listings at NYSE Euronext. “This is the beginning of a lasting relationship that will give AbbVie the benefits of the highest levels of service, liquidity and transparency available through NYSE Euronext.”
Notes to Editors:
1 Background about cross-listing on NYSE Euronext European markets
- NYSE Euronext is the first and only exchange group to offer a truly global cross-market listing, trading and visibility platform, providing cost-effective, convenient access to investors and business partners in the US and in Europe.
- NYSE Euronext is the first exchange group to offer companies the ability to trade and raise capital in € and $ and reach investors and constituents directly across continents and multiple time zones, regions and countries.
- Valuable for any company looking to enhance its global profile, support an international business or expand its non-US investor base, a Fast Path listing provides an easy, cost-effective way to gain a European trading presence. Euronext regulators accept documentation, previously filed with the SEC, to satisfythe EU Prospectus Directive. With Fast Path, a company avoids the need to draft and translate a separate prospectus in order to be admitted to trading. Documents filed with the SEC serve as the primary component to obtain approval from the competent Euronext regulator. The SEC documentation is combined with a summary “wrapper”, addressing any additional European and local requirements, forming the company’s European prospectus.
2 Executives from AbbVie rang the Opening Bell at the New York Stock Exchange on Wednesday, January 2, 2013. Please see link to the picture below:
Adelle Infante: 847-938-8745
Caroline Tourrier: +33 (0)1 49 27 10 82
AbbVie (NYSE:ABBV) is a global, research-based biopharmaceutical company formed in 2013 following separation from Abbott. AbbVie combines the focus and passion of a leading-edge biotech with the expertise and structure of a long-established pharmaceutical leader. The company’s mission is to use its expertise, dedicated people and unique approach to innovation to develop and market advanced therapies that address some of the world’s most complex and serious diseases. AbbVie aims to help patients live healthier lives and collaborate on sustainable healthcare solutions. In 2013, AbbVie will employ approximately 21,000 people worldwide and market medicines in more than 170 countries. For further information on the company and its people, portfolio and commitments, please visit www.abbvie.com. Follow @abbvie on Twitter or view careers on our Facebook or LinkedIn page.
About NYSE Euronext
NYSE Euronext (NYX) is a leading global operator of financial markets and provider of innovative trading technologies. The company's exchanges in Europe and the United States trade equities, futures, options, fixed-income and exchange-traded products. With approximately 8,000 listed issues (excluding European Structured Products), NYSE Euronext's equities markets — the New York Stock Exchange, NYSE Euronext, NYSE MKT, NYSE Alternext and NYSE Arca — represent one-third of the world’s equities trading, the most liquidity of any global exchange group. NYSE Euronext also operates NYSE Liffe, one of the leading European derivatives businesses and the world's second-largest derivatives business by value of trading. The company offers a comprehensive commercial technology, connectivity and market data products and services through NYSE Technologies. NYSE Euronext is in the S&P 500 index. For more information, please visit: www.nyx.com.
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