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News in brief: Party time for CBOE shareholders


Party time for CBOE shareholdersCBOE Holdings’ initial public offering on the Nasdaq Stock Market was priced yesterday (Monday June 14) at $29 a share – the top end of a price range that began at $27.Goldman Sachs was global coordinator of the sale, which valued the largest and oldest US options exchange at $2.975bn, or about 22 times expected 2010 profits, according to analysts.Although the US stockmarket has plunged recently and no company had floated for two weeks, the Chicago Board Options Exchange is a unique asset and was buoyed by two successive months of record trading volumes in April and May, at the end of an eight month run of year-on-year volume growth.The 11.7m common shares fetched $339.3m and...

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