On Thursday 11 August 2016, the Luxembourg Stock Exchange (LuxSE) listed and admitted to trading common shares from Globant, a global IT and software development company.
Globant’s shares were admitted to trading on LuxSE’s Bourse de Luxembourg (BdL) main market. Globant has listed 34,594,324 shares, which at today’s price of $43.91 a share represents a market capitalisation of about $1.52 billion (€1.36 billion).
Formed in 2003, Globant provides technology services and software solutions to companies worldwide with a strong presence in North America and Latin America. The company, which is incorporated in Luxembourg but has offices around the world, launched an IPO in 2014 and listed on the New York Stock Exchange (NYSE).
The shares listing at LuxSE, a secondary listing alongside the existing one on NYSE, has been described by Globant as “a strategic move to get more visibility in the European marketplace and to enable European investors to have direct access to [Globant’s] common shares”.
LuxSE is a popular listing venue for companies based both in Luxembourg and outside the Grand Duchy. As of June 2016, LuxSE lists 227 different shares and global depositary receipts, representing a total market capitalisation of €238 billion.