Banking & Finance

Interactive Brokers Now Public & Open (IBKR)

Stock Tickers: IBKR, ETFC, AMTD, SCHW

Interactive Brokers (IBKR-NASDAQ) has now opened after pricing its IPO.  The IPO came public via the OpenIPO(R) format from W.R.Hambrecht, and we already posted the bidding indications from prior bidding to give some indications of what to potentially expect for first day floors or caps.  Those are far from absolutes, but they could be used as a guide.

-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%.

Shares have now traded over 10 million shares and are up above $32.00.  The company has instantly grown in to a size that it can be compared to Ameritrade (AMTD-NASDAQ) and E-Trade (ETFC-NASDAQ), although it is still far short of Charles Schwab (SCHW-NASDAQ).  At the pricing, the company was worth roughly $12 Billion in market cap, but we’ll follow up on that with more precise numbers later.

Jon C. Ogg
May 4, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.