One of the world's leading Flavor and Fragrance companies,
International Flavors & Fragrances Inc., uses Fast Path to cross-list in
Paris
PARIS--(BUSINESS WIRE)--Jun. 19, 2015--
Regulatory News:
International Flavors & Fragrances Inc. (Paris:IFF), a leading global
creator of flavors and fragrances for consumer products, today
celebrated its cross-listing in Paris (ticker code: IFF) using the
Euronext Paris Fast Path procedure. IFF is the first US-listed company
to make use of this streamlined, cost-efficient process in 2015, and the
fifteenth to do so since Fast Path was first introduced on Euronext
markets in 2008.
Listing with Fast Path allows US-listed issuers that are incorporated
outside the European Economic Area to use their SEC filings as the basis
of their listing prospectus on Euronext markets. Fast Path can be used
in connection with a range of operations, including cross-listings,
rights issues, spin-offs, direct listings without capital raising and
more.
International Flavors & Fragrances Inc. is a leading global creator of
flavors and fragrances used in a wide variety of consumer products.
Consumers experience these unique scents and tastes in fine fragrances
and beauty care, detergents and household goods, as well as beverages,
sweet goods and other food products. The Company leverages its
competitive advantages of consumer insight, research and development,
creative expertise, and customer intimacy to provide customers with
innovative and differentiated product offerings. IFF has more than 6,200
employees working in 32 countries worldwide.
IFF was listed on Euronext Paris through the admission to trading of the
115,995,113 shares making up its equity. The admission and issue price
was set at €99.39 per share. Market capitalization on the day of listing
was around €11.5 billion.
“Cross-Listing on Euronext Paris is another important step in
facilitating broader ownership of IFF shares in the European capital
markets and reflects our company’s historic roots, strong European ties,
and global presence,” said IFF CEO and Chairman Andreas Fibig. “We are
thrilled to give European investors the opportunity to more broadly
participate in our recently announced Vision 2020 strategy. We believe
our relentless focus on innovation and differentiation will accelerate
growth and continue to create significant value for all of our
shareholders.”
Anthony Attia, Chairman and CEO of Euronext Paris, noted “We would like
to welcome International Flavors & Fragrances Inc. as it joins the long
list of international businesses already listed on Euronext markets. We
are delighted that IFF chose Paris for its cross-listing. We are
convinced that other international companies will also seek to benefit
from the increased visibility and access to capital that come with
listing on Euronext Paris.”
Albert Ganyushin, Head of International Listings at Euronext, added:
“This new listing through our Fast Path process is a good example of our
ability to connect leading companies with global investors effectively
and efficiently and a demonstration of the attractiveness of the
Euronext platform as a leading exchange in Europe. This listing will
give IFF broad access to European investors, while boosting its profile
and visibility to help expand its business and strengthen its global
presence.”
About International Flavors & Fragrances Inc.
International Flavors & Fragrances Inc. (NYSE:IFF) is a leading global
creator of flavors and fragrances used in a wide variety of consumer
products. Consumers experience these unique scents and tastes in fine
fragrances and beauty care, detergents and household goods, as well as
beverages, sweet goods and food products. The Company leverages its
competitive advantages of consumer insight, research and development,
creative expertise, and customer intimacy to provide customers with
innovative and differentiated product offerings. A member of the S&P 500
Index, IFF has more than 6,200 employees working in 32 countries
worldwide. For more information, please visit our website at www.iff.com;
follow us on Twitter
and LinkedIn.
About Euronext
Euronext is the primary exchange in the euro zone with over 1,300
issuers worth €3.2 trillion in market capitalisation, an unmatched
blue-chip franchise consisting of 24 issuers in the EURO STOXX 50®
benchmark and a strong, diverse domestic and international client base.
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operates regulated markets, Alternext and the Free Market; in addition
it offers EnterNext, which facilitates SMEs’ access to capital markets.
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View source version on businesswire.com: http://www.businesswire.com/news/home/20150619005240/en/
Source: International Flavors & Fragrances Inc.
International Flavors & Fragrances Inc.
Michael DeVeau,
212-708-7164
Michael.DeVeau@iff.com
or
Euronext
Vanessa
Stephan, +33 (0)1 70 48 24 42
vstephan@euronext.com
or
Aïchata
Tandjigora, +33 (0)1 70 48 24 43
atandjigora@euronext.com