A lot of European activity at the NYSE these days:
- French semiconductor IPO Sequans Communications to ring the NYSE Opening Bell today.
- Paris Europlace is returning to the NYSE for its annual New York forum. Will ring NYSE Closing Bell today.
- Continuing inflow of European listings on the NYSE. Container shipping company Box Ships started trading last Thursday.
Almost to the day four years after the merger between NYSE and Euronext, the NYSE today experiences another all-French day. The French flag is flying outside at the NYSE façade.
Last week’s French technology IPO, Sequans Communications (NYSE: SQNS), is ringing in the trading week on Wall Street. With Sequans Communications, the NYSE puts French IPOs back on the map and is further expanding the universe of technology listings. The company, a leading cables designer, developer and supplier of 4G Semiconductor solutions, raised $77 million and had its trading debut on Friday.
This morning, Paris EUROPLACE, the transatlantic business think tank, kicks off its annual forum at the NYSE. It is the third consecutive year that the event is taking place on our premises (before the merger of NYSE and Euronext, the event was held in hotels in Midtown).
The theme of this year’s event is "The New Challenges of the Financial Sector: The Japan Shock, New Regulations & Economic Growth".
Christian Noyer, Governor of the Bank of France and co-chair of the G20 Finance,will deliver the keynote address. More than 300 delegates are expected to attend, among them institutional investors, corporate issuers, bankers and insurers. The event will be co-hosted by Mr. Gérard Mestrallet, Chairman & CEO, GDF SUEZ (listed on our European market), Chairman, Paris EUROPLACE, and our CEO Duncan Niederauer.
Debates will be moderated by Liz Claman, Anchor, FOX Business Network and will cover three main topics:
- Europe's economic outlook and the future of the Euro,
- the G20's current challenges and what it means for the banking industry,
- Stock Exchange consolidation.
Other sessions will be dedicated to the legal and tax need to knows for investing in France, the success of the covered bond market in Europe and finally, examples of business opportunities within the oil and energy sectors.
Last but not least, on Thursday, the Greek container shipping company Box Ships Inc. (NYSE: TEU) successfully listed on the NYSE and raised $132 million. Box Ships is a container shipping company formed by Paragon Shipping Inc. (NYSE: PRGN), which was one of the 14 companies that transferred from Nasdaq to the NYSE last year. People less familiar with shipping terminology, please note the catchy symbol TEU (“twenty-foot equivalent unit”, the industry’s standard unit for describing a ship's cargo carrying capacity).
With last week’s market debutants form Europe, we are building on the ten new European listings of the last 18 months (will expand on that angle in a later blog) and have added the 39th shipping company to our franchise of maritime listings.
