Finance History | 11 Wall Street — Twenty-Six Dollars for an Energy Tape Called ICE
· 2005-11
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Finance History | 11 Wall Street — Twenty-Six Dollars for an Energy Tape Called ICE
kevin
People treat Intercontinental Exchange as an Atlanta data house that always printed ICE after a finished NYSE book.
The November 2005 issuer was IntercontinentalExchange, Inc., an electronic energy marketplace that had bought the International Petroleum Exchange and still ran most of its volume off a screen.
The company's 424(b)(1) prospectus priced 16 million common shares at 26 dollars a share on 15 November 2005, 416 million dollars in 2005 currency before discounts.
Of those shares the company sold 2.5 million. Selling shareholders sold the other 13.5 million. Company proceeds before expenses were 60,779,225 dollars.
ICE Investor Relations dates the New York Stock Exchange listing to 16 November 2005 under the letters ICE.
MarketWatch recorded an open at 39 dollars and a close at 39.25 dollars, a 51 percent gain on the 26-dollar offer, on volume of 19.5 million shares.
The closing notice later put the full allotment, including the over-allotment, at 18.4 million shares.
The mechanism is an energy-futures platform selling a minority public slice while most of the cash went to existing owners, not to the exchange.
The pin is the Broad Street facade of the Exchange on the morning the letters first printed.
Interior trading is not visitable from the sidewalk.
Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
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