CBOE shares jump in debut after $339 million IPO

The stock opened on Nasdaq at $32.80 and rose as high as $33.75.

A crowd of 400 to 500 people gathered on the CBOE floor in Chicago's financial district in anticipation of the debut. The crowd, awash in confetti and blue-and-white balloons, included Illinois Congressman Danny Davis, Governor Pat Quinn and Chicago Mayor Richard Daley, as well as top brass from CBOE.

After the market closed on Monday, CBOE sold 11.7 million shares for $29 each in an initial public offering, pricing at the top of the expected range and raising about $339 million.

The IPO gave CBOE, the last major North American exchange to become publicly traded, a market value of $2.97 billion. It was a surprising show of strength in the U.S. IPO market, which in recent weeks has suffered from equities volatility due to worries over Europe's sovereign debt woes.

Read Full Article from Reuters

- Posted: 2010-06-15 13:06:32

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