EADS (European Aeronautic Defence and Space) was formally established on 10 July with the flotation of around a third of its shares on the Paris, Frankfurt and Madrid stock exchanges.
The merger of Aerospatiale Matra, DaimlerChrysler Aerospace and CASA has created a company that will challenge Lockheed Martin of the USA for second place in the world aerospace and defence rankings, with both behind Boeing. EADS had proforma revenues of €22.5 billion (€21.5 billion) in 1999, with 76% of sales derived from the commercial side and the rest from the military.
As Flight International closed for press, the offer for retail investors was expected to be set at €20-23 a share, valuing EADS at up to €18.6 billion. The price was discounted by €1, compared with the charge for institutional investors.
Source: Flight International
