Vivendi Environnement Shares Begin Trading on the New York Stock Exchange
Vivendi Environnement listed its shares on the New York Stock Exchange. Shares of Vivendi Environnement will be traded in the form of American Depositary Receipts (ADRs) with 100 million ADRs representing an equal number of Vivendi Environnement ordinary shares. No new Vivendi Environnement shares will be issued in conjunction with the listing. The ADRs will be traded under the ticker symbol "VE". The Bank of New York will act as the ADR Depositary Bank.
Members of senior management, including Jean-Marie Messier, Chairman of Vivendi Environnement's Supervisory Board, and Henri Proglio, Chairman of Vivendi Environnement's Management Board, visited the New York Stock Exchange to mark the listing on the Big Board. This follows on from Vivendi Environnement's successful IPO in Paris in July 2000; the shares have delivered a total return of more than 25 percent since then.
"Today's listing gives Vivendi Environnement's shares the visibility, credibility, and security that the prestigious New York Stock Exchange can provide," said Mr. Messier, who is also a member of the NYSE Board. "The listing is also a testament to Vivendi Environnement's unwavering confidence in America's financial markets, particularly at the prestigious financial center here in New York. Vivendi Environnement is a leading environmental services company on a worldwide basis and is committed to expanding its presence in the US and around the world. I am very eager to share Vivendi Environnement's vision for growth with US investors."
Proglio said, "Vivendi Environnement is a world leader in providing environmental services, active in the areas of water, waste management, transportation and energy services. The global success and rapid growth of our company has been driven by the delivery of innovative and cost-effective solutions and services to the public and private sectors, and a business model that ensures the growth, quality and visibility of earnings."
"Today's NYSE listing also highlights our large and expanding position in the US, Vivendi Environnement's second largest market, with nearly $6 billion in annualized sales. The ADRs will give US investors and our 45,000 US employees an additional means to participate in our financial success."
"The Exchange welcomes Vivendi Environnement to our family of listed companies and looks forward to supporting the company's global brand and business growth objectives," said NYSE Chairman and Chief Executive Officer Dick Grasso. "Vivendi Environnement's listing provides the company with a gateway to the world's largest base of investors and, in the NYSE, a partner which is committed to providing the world's highest quality equities market. We applaud the company for continuing with its plans to list as an added sign of support for America and our financial markets."