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Chicago Board Options Exchange IPO shines with $339m valuation
SHARES of CBOE Holdings jumped as much as 16 per cent in their stock market debut yesterday as investors saw bright prospects for the parent of the Chicago Board Options Exchange.
The stock opened at $32.80 and rose as high as $33.75 in morning Nasdaq trading. A crowd of 400 to 500 people gathered on the CBOE floor in Chicago’s financial district to witness the launch.
After the market closed on Monday, CBOE sold 11.7m shares for $29 each in an initial public offering, pricing at the top of the expected range and raising about $339m.
The IPO gave CBOE, the last major North American exchange to become publicly traded, a market value of $2.97bn.