Settlements S.A. lists on NYSE Alternext

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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