STOCKHOLM, Sweden, Jan. 7, 2003 (PRIMEZONE) -- In connection with Pharmacia's delisting from Stockholmsborsen, which is expected to occur during the first quarter of 2003, Stockholmsborsen will offer trading in Pfizer, which intends to acquire Pharmacia.
The Pfizer share will be traded in the same manner as all of the other shares on the Exchange. However, the company will not be listed on Stockholmsborsen. Trading will be conducted in Swedish kronor (SEK) via Stockholmsborsen's SAXESS(TM) trading system. To assure that trading of the Pfizer share maintains satisfactory liquidity, Enskilda Securities will act as the market maker, thereby ensuring that buy and sell prices are continuously available.
"Stockholmsborsen aims to make it easier for the large number of Pharmacia shareholders to trade in the new Pfizer share in a simple and cost-effective manner. That is why we are offering this trading solution, despite the fact that Pfizer is not listed on Stockholmsborsen," said Simon Nathanson, Executive Vice President of Stockholmsborsen.
Pfizer's primary listing is on the New York Stock Exchange (NYSE). No agreement will exist between Stockholmsborsen and Pfizer. Among other effects, this will mean that Stockholmsborsen's regulations in regard to the disclosure of information to the Swedish market will not apply.
Investors will find information about events affecting the price of the share, reports and other details on the Pfizer Website or through other sources used by American companies for the dissemination of information. However, information about trading in the Pfizer share on Stockholmsborsen will be distributed in the same manner as the price information about other shares traded on Stockholmsborsen.
VPC (the Swedish Securities Register Center) will make it possible to remove and register Pfizer shares. Certain conditions will, however, apply to VPC's handling of the shares; for example, shareholders will not receive notifications regarding general meetings, or be given the opportunity to vote at general meetings.
Through Stockholmsborsen's "tailor-made clearing" concept, the clearing of derivative contracts in Pfizer will also be undertaken. If there is a demand for trading in standardized derivatives, this can also be offered.
For further information Simon Nathanson, Executive Vice President, Tel +46 (0)8 405 66 22 Stockholmsborsen Ulf Lindgren, Chief Legal Council, Tel +46 (0)8 405 70 60 Stockholmsborsen Maria Andark, VP Corporate Communication, Tel +46 (0)70 597 52 76 Stockholmsborsen This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: www.waymaker.net/bitonline/2003/01/07/20030107BIT00450/wkr0001.doc www.waymaker.net/bitonline/2003/01/07/20030107BIT00450/wkr0002.pdf