Finance History|Nasdaq MarketSite — Twenty-Nine Dollars for the Last Member Exchange
· 2010-6
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Finance History|Nasdaq MarketSite — Twenty-Nine Dollars for the Last Member Exchange
kevin
People treat Cboe as a Chicago options house that always printed CBOE on Nasdaq.
The 2010 issuer was still CBOE Holdings, the last major North American exchange owned by its members.
CBOE Holdings priced 11.7 million unrestricted shares at 29 dollars each after the close on 14 June 2010, the top of a 27-to-29-dollar range.
About 9.6 million shares came from the company and about 2.1 million from existing holders.
The company's own pricing release said trading would begin on the Nasdaq Stock Market the next morning under CBOE.
Gross proceeds were about 339 million dollars in 2010 currency.
Reuters and the New York Times both recorded the open at 32.80 dollars and a session high of 33.75.
The same reports recorded the first close at 32.49 dollars, up 3.49 dollars or 12 percent from the offer.
The New York Times DealBook put the closing market value at 3.33 billion dollars.
The mechanism is a demutualization. Seat holders sold a public minority so a member-owned options floor could trade as ordinary stock.
Proceeds were earmarked in part to buy back shares from members.
The later Cboe Global Markets name is a rebrand of this same CBOE line, not a second listing.
The pin is the public facade of Nasdaq MarketSite at 4 Times Square. Interior studios are not a visitor floor.
Photo: Luca Marfe, June 2015, CC BY 2.0, via Wikimedia Commons. Nasdaq MarketSite.
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