Interactive Brokers IPO values firm at $12bn

Interactive Brokers (IB) has raised $1.2bn from 10% of shares in the largest US IPO this year, valuing the firm at $12bn.

The Connecticut based securities and derivatives market maker and broker sold 40m shares at $30 on 4 May, twice the number of shares that had been scheduled for the float and at the high end of its projected $27-$31 price range. IB shares hit a high of $34.25 before closing at $31.30. The price has sagged slightly since, falling to $28.32 on 9 May.