Intertrust begins trading at 15.50 euros: Reuters

Shares in Dutch trust firm administrator Intertrust NV began trading on the Amsterdam stock exchange at 15.50 euros, towards the lower end of its indicative range and valuing the company at about 1.32 billion euros ($1.5 billion).

Intertrust listed 31.4 million shares, or 36.9 percent of its equity, worth 486 million euros, before a possible over-allotment option, it said in a statement late Wednesday.

The shares rose 0.15 cents to 15.65 euros in early trading.

The company, which provides tax and regulatory compliance services and is majority owned by Blackstone, had set an indicative price range of 14.50-19.00 euros per share.