March 23, 2012

Exchange operator BATS Global Markets debuted on the public market at $16 a share, the low end of the range the company predicted in its most recent prospectus.

The company previously said it expected its IPO to price between $16 and $18 a share. Shares of its Class A common stock will trade under the symbol BATS on the BATS Exchange. The firm added that one of its stockholders granted the underwriters on the deal a 30-day option to buy up to an additional 944,524 shares.

BATS said its stock floatation makes nearly 6.3 million shares of Class A common stock available to the public.

ABOUT THE AUTHOR
As the Senior Editor of Advanced Trading, Justin Grant plays a key role in steering the magazine's coverage of the latest issues affecting the buy-side trading community. Since joining Advanced ...