United Utilities shares launch

United Utilities, the privatised company that owns North West Water and Norweb, the regional electricity company, yesterday celebrated the successful launch of the group's shares on the New York Stock Exchange. Watching trading screens were (from left) William Johnston, president of the New York Stock Exchange, Bob Ferguson, United's finance director, and Derek Green, chief executive. The listing was in the form of American Depository Shares which represent two ordinary shares in United Utilities. Mr Green said: "United Utilities operates in many parts of the world and in North America we have a 50 per cent interest in US Water."

Photograph: Eye Catchers