FOi - Futures and Options Intelligence

CBOE plans to float before the summerCBOE Holdings, owner of the Chicago Board Options Exchange, today announced it had filed with the US Securities and Exchange Commission to conduct an IPO. Goldman Sachs will be the global coordinator of the offering. The number of shares to be offered and the price range have not yet been set. The shares will be sold by CBOE Holdings and/or certain stockholders. The exchange will not receive any proceeds from sales by stockholders.Proceeds from the sale of shares by CBOE will be used for general corporate purposes, including to repurchase shares to be issued to CBOE members as part of the planned demutualisation. CBOE may also repurchase shares issued to former members of the Chicago Board of Trade in settlement of their litigation against CBOE over exercise rights. The IPO will be conducted concurrently with the demutualisation of Chicago Board Options Exchange, Inc, the...