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ICE Says Euronext IPO May Value Unit at Up to $2.4 Billion

Intercontinental Exchange Inc. began the initial public offering of its Euronext NV unit, saying it will value the stock-market operator at as much as 1.75 billion euros ($2.4 billion).

ICE is selling a stake of as much as 60.15 percent of Euronext at 19 euros to 25 euros a share, the Atlanta-based company said today in a statement. Assuming exercise of an over-allotment option, the transaction will raise as much as 1.16 billion euros. Trading is expected to start June 20.