Economy

First Chinese enterprise listed on NYSE Alternext

(Xinhua)
Updated: 2010-02-03 09:14

PARIS: NYSE Euronext announced Tuesday the listing of Eurasia Groupe, the first France-based Chinese enterprise embarking European stock market.

Eurasia Groupe is a commercial property specialists established by Chinese entrepreneurs in the Greater Paris area with consolidated revenues totaling 8.4 million euros ($11.7 million) in 2008.

The market debut of Eurasia Groupe by direct listing follows the private placement of over 1.38 million shares at 9.16 euros per share with qualified investors.

Altogether over 7.12 million shares were admitted to listing at this same price and the market capitalization totaled 65.3 million euros on the first trading day, the company said in a statement.

"Through its listing, Eurasia Groupe gains access to a market with innovation operating rules that provide transparency and encourage liquidity," said Ronald Kent, Executive Vice President and Head of International Listings at NYSE Euronext.

"Our listing on NYSE Alternext materializes the efforts invested over the past few years. This successful operation also testifies to the existing and ever-closer ties between China and France that we represent," the group's Chief Executive Officer Wang Hseuhsheng said.

Euraisa Groupe specializes in commercial property investment and rental, with assets including retail outlets, show rooms, warehouses, offices and hotels.

Founded in 2005, NYSE Alternext currently has 126 listed companies from various countries including Belgium, Canada, China, France, the United Kingdom and the United States, totaling 2.22 billion euros raised by these companies.