Settlements S.A. lists on NYSE Alternext

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NYSE Euronext today announced the listing of the securitisation vehicle SETTLEMENTS S.A. on NYSE Alternext in Brussels.

SETTLEMENTS was incorporated under Belgian law on 28 July 2008 under the name Assured; this name changed to SETTLEMENTS S.A. on 11 April 2011. The company aims to be active in the purchase and management of life settlements portfolios (1). To finance the purchase of those insurance policies, the  company intends to issue debt notes in the coming weeks and to offer them publicly on NYSE Alternext in Brussels, where it will be the first listing of notes.

The underlying assets being located in the US, the shares and notes will be quoted in US dollars. SETTLEMENTS S.A. (ticker code: STTL) was listed through admission to trading of 270,000 shares, including 260,000 new shares issued in a private offering to qualified investors. The total amount raised was the equivalent of €2.6 million. The admission and issue price of SETTLEMENTS S.A. was set at $14.323. After the first day of trading, the market capitalization stood at $3.94 million on the basis of an opening price of $14.60. 

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Euronext is the leading pan-European market infrastructure, connecting European economies to global capital markets, to accelerate innovation and sustainable growth. It operates regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal. With close to 2,000 listed issuers and around €5.8 trillion in market capitalisation as of end June 2022, it has an unmatched blue-chip franchise and a strong diverse domestic and international client base. Euronext operates regulated and transparent equity and derivatives markets, one of Europe’s leading electronic fixed income trading markets and is the largest centre for debt and funds listings in the world. Its total product offering includes Equities, FX, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. The Group provides a multi-asset clearing house through Euronext Clearing, and custody and settlement services through Euronext Securities central securities depositories in Denmark, Italy, Norway and Portugal. Euronext also leverages its expertise in running markets by providing technology and managed services to third parties. In addition to its main regulated market, it also operates a number of junior markets, simplifying access to listing for SMEs.  
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