* Aperam to list in Amsterdam, Paris, Luxembourg
* Aperam shares trade higher than reference price (Adds detail)
AMSTERDAM, Jan 26 (Reuters) - ArcelorMittal, the world's largest steelmaker, listed its stainless steel division Aperam in Amsterdam on Wednesday, hoping to profit from surging emerging market demand.
Global demand for stainless steel -- used in products ranging from kitchen pots to car trim and surgical instruments -- is driven by Asia. Stagnant consumption in Europe has led to a glut of capacity there, prompting speculation about the possible consolidation of steelmakers.
Aperam, also to be listed on the Paris and Luxemburg bourses, will be the world's sixth-largest stainless steel producer, tapping into consumer-driven demand for stainless steel and niches such as specialty alloys.
Aperam shares opened at 28 euros in Amsterdam on Wednesday and were trading up 5.8 percent from their reference price at 0923 GMT at 28.89 euros, giving the company a market capitalisation of around 2 billion euros.
ArcelorMittal expects global stainless steel demand to rise by 6 percent per year until 2015 after a 20 percent bump last year, although there are concerns about overcapacity and the price of nickel, used to make steel.
Nickel prices are expected to rise this year as fast-growing demand runs into scarce supplies, which are likely to be curbed by the spike in coal prices, a Reuters poll showed this week.
In an industry ripe for consolidation, ArcelorMittal hopes that a separate unit will enjoy a higher market valuation. ArcelorMittal investors will receive one new Aperam share for every 20 ArcelorMittal shares they hold.
The Mittal family will hold 40.8 percent of Aperam.
Principal European competitors are ThyssenKrupp, Acerinox and Outokumpu.
In 2009, Aperam had revenue of $4.2 billion, some 7 percent of ArcelorMittal's total revenue, and carried out shipments of 1.45 million tonnes. Its industrial network is based on six main plants in Brazil, Belgium and France.
(Reporting by Greg Roumeliotis; Editing by Erica Billingham)