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Liffe launches EDPR SSFs on the Lisbon derivatives market to start trading 23rd June 2008
Lisbon, Thursday 19 June 2008 – Liffe is pleased to announce the launch of Single Stock Futures (“SSF”) on EDP Renováveis* on the Lisbon derivatives market. The new SSFs will be available for trading on 23rd June 2008.
EDP Renováveis single stock futures – EDR SSFs – have the same contract specifications as the 12 existing Portuguese single stock futures. The contracts expire on the third Friday of the month and are initially available with four expiries: July, August, September and December 2008. Each SSF contract represents 100 EDP Renováveis shares.
From 1 July 2008, Banco Santander de Negócios Portugal will act as a market maker in the new stock futures contract. Market makers will therefore be available and quote prices for all Portuguese single stock and PSI 20 futures contracts.
EDP Renováveis S.A. stock futures will also be available on Bclear from 23 June 2008, Liffe’s service for processing and clearing wholesale equity derivatives.
*EDP Renováveis is a subsidiary of EDP – Energias de Portugal. Renováveis’s core business is the construction and management of wind farms and other renewable energy sources. The company owns wind farm assets in Spain, Portugal, France, Belgium, Poland and in the US through its Horizon subsidiary. Renováveis’ EBITDA for Q1 2008 was 125.5 Mln€ for assets totaling 7092.5 Mln€. EDP Renováveis launched a combined offer of a maximum of 225.4 million shares, subscribed by both retail (through a public offer addressed to investors in Portugal) and institutional investors (through a private placement). Final subscription price was established at 8.00 Euros. This translates to an initial market cap of the company of 7.2 Billion Euros. The gross IPO proceeds (1.8 Billion Euros including greenshoe) represents the largest IPO in Europe in 2008 to date. The press and financial community participated in the Special Session that took place on Lisbon on the 2nd June. Renováveis’ listing on Euronext Lisbon began on the 4th June.
For more information, please contact:
Paula Cordeiro
+351 21 790 00 25
Notes to Editors
1. Liffe is the brand name of the derivatives business of Euronext - a subsidiary of NYSE Euronext, comprising the Amsterdam, Brussels, London, Lisbon and Paris derivatives markets. Business worth over €1,500 billion is traded through Liffe every day, making it the world's second largest derivatives market, by value of transacted business. Liffe has created a single market for derivatives by bringing all its derivatives products together on a single electronic trading platform, LIFFE CONNECT®.
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