(Bloomberg) — Intercontinental Exchange Inc. sold the last of its shares in Euronext NV, completing its exit from a business that has rallied 23 percent since its initial public offering in June.
The Atlanta-based derivatives exchange raised 96.8 million euros ($119 million) by offloading 4.2 million shares, or about 6 percent of the European company, according to a statement today. Euronext gained its independence from ICE through an 845 million euro IPO in June.
Shares in the operator of stock exchanges in France, the Netherlands, Belgium and Portugal have rallied to 24.66 euros from their sale price of 20 euros. ICE offered Euronexts stock through a private placement to institutional investors, it said in the statement.
NYSE Group Inc., the then owner of the New York Stock Exchange, bought Euronext in 2007, renaming itself as NYSE Euronext. ICE spun off Euronext after taking over its parent company late last year.
Euronext has had to compete for market share with a new breed of pan-European stock exchanges, including Bats Chi-X Europe, since the European Union opened equity trading within its member states to new entrants.
