CBOE Sets Initial IPO Terms (CBOE)

If you are a fan of initial public offerings for the actual securities exchanges out there, the CBOE IPO terms have been set and the deal is not getting much closer to pricing.  An SEC filing out just today shows that the terms have been set for the IPO of the options trading exchange.  CBOE Holdings, Inc. is set to offer 11.7 million shares in an IPO with an initial price range starting at $27.00 to $29.00 per share.

Of the 11.7 million share offering, the exchange is selling 9,614,226 of the shares and selling stockholders (exchange members, firms, etc.) are offering 2,085,774 shares in this offering.

The common stock will trade on the NASDAQ Global Select Market under the “CBOE” stock ticker.  As previously noted, the underwriting group here is massive:

• Goldman Sachs is the sole global coordinator of the IPO;
• The joint book-running managers are Goldman Sachs, Merrill Lynch, Barclays Capital, Citadel Securities, Citigroup Global Markets, JPMorgan Securities, and UBS.
• Co-Managers are BMO Capital Markets, Credit Suisse Securities, Morgan Stanley, Oppenheimer & Co., Raymond James & Associates, Cabrera Capital Markets, Keefe Bruyette & Woods, Loop Capital Markets, Macquarie Capital (USA), Rosenblatt Securities, and Sander O’Neill & Partners.

The prior filing shows more detail about how many shares and more issues will be outstanding.  Today’s full SEC filing is available.

JON C. OGG