Amsterdam, Brussels, Lisbon, London and Paris - May 16th, 2012 - Core Laboratories N.V., (ticker symbol: CLB), an international service provider to the oil and gas industry, celebrated its dual listing on NYSE Euronext in Amsterdam today.
Core Laboratories N.V. is a Netherlands-based, NYSE-listed, leading provider of proprietary and patented reservoir description, production enhancement, and reservoir management services used to optimize petroleum reservoir performance. The company has over 70 offices in more than 50 countries and is located in every major oil-producing region in the world.
The dual listing on NYSE Euronext in Amsterdam is part of the company’s strategy to expand investor ownership beyond the United States. This listing provides the company with broad access to European based investors, offering optimal visibility and access to the euro zone capital markets. The company will also continue to trade on the New York Stock Exchange (NYSE) and is not issuing any new shares in connection with this dual listing.
Core Laboratories has been listed on NYSE since 1998, with a market capitalization of $636 million at the time. The company's market capitalization has grown to just over $6 billion this year with a significant increase in interest from prospective international institutional investors in participating in ownership of Core Laboratories through its publicly traded shares.
Core Laboratories’ shares were admitted to listing and trading on NYSE Euronext in Amsterdam by direct listing of the existing 49,037,808 issued shares making up the company's issued share capital.
ING is acting as listing agent (and liquidity provider) in respect of this dual listing.
“We would like to extend a warm welcome to Core Laboratories, a strong addition to the international companies already listed on NYSE Euronext in Amsterdam”, said Cees Vermaas, CEO of NYSE Euronext Amsterdam. “We are delighted that Core Laboratories has chosen for this international listing. We are confident that more global firms will seek to take advantage of the profile and access to capital that a listing on NYSE Euronext in Amsterdam offers.”
Diederik Zandstra, Head of Listings Europe of NYSE Euronext said: “We are delighted to welcome Core Laboratories to NYSE Euronext’s European markets. This dual listing in Amsterdam enables the company to increase its visibility in Europe and to meet the growing interest of its international investors. We look forward to continuing our partnership with Core Laboratories and supporting the company in its growth and visibility via our global market”.
David Demshur, Chairman and CEO of Core Laboratories said: "We are delighted to be able to celebrate our dual listing today. We consider NYSE Euronext Amsterdam as a logical choice given Core Lab’s historical ties with the Netherlands. We have a relatively large operational footprint in the Netherlands due to our laboratories in Rotterdam, Vlaardingen and Amsterdam. Furthermore, the dual listing at NYSE Euronext will provide us access to European-based investors who have already shown interest in the company.”
To celebrate the dual listing Core Laboratories' Senior Executives, the Supervisory Board and David Demshur, CEO and Chairman of Core Laboratories, sounded the gong which denotes the opening of trading on the Amsterdam exchange. They were joined by the listing agent and legal advisors, the NYSE Euronext listing team and Cees Vermaas, CEO of NYSE Euronext Amsterdam.