NYSE Euronext Preliminary Summary of 2007 Listings and IPO Activity
--NYSE Euronext no. 1 in overall IPO proceeds worldwide in 2007--
--Tech sector IPOs raise $5.4/€3.67 billion on NYSE Group markets, more than Nasdaq—
--NYSE Attracted 20 Listings from China in 2007, including 18 IPOs--
Dec. 28, 2007 —In 2007, NYSE Euronext’s U.S. and European equities markets attracted more initial public offering (IPO) proceeds than any other exchange group, according to preliminary year-end data. IPOs on NYSE Euronext markets raised a total of $78/€53 billion in proceeds, including closed-end funds. Excluding closed-end funds, IPOs on NYSE Euronext markets raised a total of $48/€33 billion, also more than any other exchange.
In 2007, NYSE Euronext added a total of 425 new listings, including 140 on NYSE Euronext’s European markets. Among the world’s largest IPOs to have listed on NYSE Euronext markets in 2007 were Blackstone Group (NYSE: BX), MF Global Ltd. (NYSE: MF), Sterlite Industries (India ) Ltd. (NYSE: SLT), and Nyrstar (Euronext Brussels). A detailed summary by listings category follows below.
NYSE Euronext Listings and IPOs
- Buoyed by strong IPO activity, NYSE Group markets (NYSE and NYSE Arca) saw a significant number of IPOs, especially from the technology sector: including VMWare Inc. (NYSE: VMW), one of the year’s best-performing IPOs, as well as emerging markets-driven non-US listings activity led by China, and a number of large U.S. domestic IPOs.
- Of technology IPOs that listed in the US in 2007, 92% of those qualifying for the NYSE selected the NYSE as their IPO venue. NYSE Arca was successful in attracting emerging technology companies that previously had no choice in listing market.
- Technology sector new listings on NYSE Group markets in 2007 included, on the NYSE: Teradata Corporation (NYSE: TDC), Orbitz Worldwide, Inc. (NYSE: OWW), PROS Holdings, Inc. (NYSE: PRO), Metro PCS Communications (NYSE: PCS), Dice Holdings Inc (NYSE: DHX), Solera Holdings (NYSE: SLH), Genpact (NYSE: G), VMWare Inc. (NYSE:VMW) and Netsuite (NYSE: N), and on NYSE Arca: Netezza Corporation (NYSE Arca: NZ), Compellent (NYSE Arca: CML), 3PAR (NYSE Arca: PAR) and K-12 (NYSE Arca: LRN).
- IPOs on NYSE Group markets by the 44 U.S. domestic operating companies raised a total of $19.9/€13.5 billion in proceeds (excluding funds).
- The 42 non-US listings on NYSE Groupmarkets this year were the highest level since 2002, with the 33 IPOs by non-US operating companies raising a total of $13.8/€9.4 billion, with Israel’s Cellcom Israel Ltd. (NYSE: CEL), and Brazil’s Gafisa SA (NYSE: GFA) leading examples of strong activity. China contributed with 20 NYSE listings in 2007, 18 of which were IPOs.
- Total IPO proceedson NYSE Group markets were $61.4/€41.8 billion, including funds, non-US companies, and NYSE Arca.
- Transfers to NYSE Groupmarkets included leaders such as American Eagle Outfitters, Inc. (NYSE: AEO), and Harry Winston Diamond Corporation (NYSE: HWD), bringing the total number of transfers from Nasdaq this year to 10. In all, 30 transfers joined NYSE Group from other markets in 2007.
- NYSE Arca attracted a total of 128 exclusive listings this year, including Exchange Traded Funds and Exchange Traded Notes.
- On NYSE Euronext’s European markets in 2007, 140 companies made their market debut with $14.3/€9.7 billion raised and $309.7/€210.7 billion of additional market capitalization.
- Listings on NYSE Euronext’s Alternext market surpassed the 100 company mark this year, confirming the market’s role as a destination for small and mid-size companies. In total, 119 companies are listed today on Alternext, and these companies have raised a total of over $2.4/€1.6 billion (including funds raised on the secondary market) and their total market capitalization is $7.8€/5.3 billion.
Closed End Funds
- Closed End Funds (CEFs) set a new record raising $27.88/€18.97 billion in proceeds with 38 IPO listings. In total, 41 closed-end funds listed on the NYSE, including two of the largest IPO's in NYSE history, the Eaton Vance Tax-Managed Global Diversified Equity Income Fund (NYSE: EXG) and the Alpine Total Dynamic Dividend Fund (NYSE: AOD). EXG raised a total of $5.5/€3.7 billion in IPO proceeds, the largest CEF IPO ever. New CEF listings have more than doubled that of full year 2006 and IPO proceeds have more than tripled, making 2007 the most successful year for closed end funds ever.
The NYSE now lists more than 500 Closed End Funds, and 99% of all qualified CEF IPO’s listed on the NYSE in 2007.
About NYSE Euronext
NYSE Euronext, a holding company created by the combination of NYSE Group, Inc. and Euronext N.V., commenced trading on April 4, 2007 . NYSE Euronext (NYSE Euronext: NYX) operates the world’s largest and most liquid exchange group and offers the most diverse array of financial products and services. NYSE Euronext, which brings together six cash equities exchanges in five countries and six derivatives exchanges in six countries, is a world leader for listings, trading in cash equities, equity and interest rate derivatives, bonds and the distribution of market data. Representing a combined $30.3 trillion/€21.3 trillion total market capitalization of listed companies and average daily trading value of approximately $139 billion/€103 billion (as of September 30, 2007), NYSE Euronext seeks to provide the highest standards of market quality and integrity, innovative products and services to investors, issuers, and all users of its markets.
Cautionary Note Regarding Forward-Looking Statements
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 2006 ("document de référence") filed with the French Autorité des Marchés Financiers (Registered on June 6, 2007 under No. R.07-0089), 2006 Annual Report on Form 10-K, as amended, 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.