Bats Global Markets launches IPO

Bats Global Markets launched its initial public stock offering Monday, beginning a process that could value the stock exchange operator between $1.6 billion and $1.8 billion.

The Lenexa, Kan.-based company will sell 11.2 million shares for $17 to $19 each on its own exchange, raising as much as $212.8 million.

If successful, Bats would be one of the first American IPOs during a year in which market volatility and queasy investors have made for a somewhat grim environment.

Bats, the country’s second-largest stock exchange operator behind the New York Stock Exchange, withdrew an IPO four years ago due to an error in its trading software that stopped its shares from opening properly on its own exchange.

Since them, Bats has expanded into foreign exchange and options markets and started listing exchange-traded funds.

Read more: Kansas City Star


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