Banking & Finance

Interactive Brokers IPO Terms Set Even Higher

Interactive Brokers (IBKR-NASDAQ) priced 40 million share IPO at $30.01 per share.  This is now a $1.2 Billion deal and the share count by the end of the bidding was essentially raised twice and with a higher price range.

This is under the OpenIPO® format from W.R.Hambrecht.  HSBC, Fox-Pitt Kelton, Sandler Oneill, and E-Trade were also participating in the deal.  Needless to sday, the demand is there since this is the largest international market trading platform for individuals by giving access to more than 60 different markets between global equity exchanges, futures, options, and currencies.

If you are looking for what a bidding guideline range was, they at least published this:

-The auction clearing price was $33.00.
-The offering price was $30.01.
-A total of 13,504 bids were received in the auction.
-A total of 8,282 bids were successful.
-A total of 145,514,807 shares, in total, were bid for at prices equal to or in excess of the offering price.
-The pro rata fill rate for bids was 27.5%.

Jon C. Ogg
May 4, 2007