خبر من الياهو...
يا ترى ما علاقة CBOT ب REFCO المفلسة؟
يا ريت أحد الاخوة يوضح لنا.
UPDATE 1-CBOT IPO prices at $54/share, above forecast
Tue Oct 18, 2005 05:40 PM ET
(Adds byline, analyst comment, background in paragraphs four, five, nine through 12)
By Scott Malone
NEW YORK, Oct 18 (Reuters) - The initial public offering of CBOT Holdings Inc., which operates the No. 2 U.S. futures and commodities market, priced at $54 a share on Tuesday, above its forecast range of $45 to $49, according to an underwriter.
That values the deal at $172.3 million.
The offering encompasses 3.2 million shares, including 2.9 million to be sold by the company and 263,003 from selling shareholders. It represents 6.1 percent of the CBOT's shares outstanding.
"There is a lot of demand, it's a high-priced stock," said Francis Gaskins, president of IPO Desktop, an independent research company based in Los Angeles. "It's not unusual to price a little bit above (forecast) when there's a lot of demand ... It's only 10 percent above, it's like a $20 stock being priced at $22."
The company, which operates the Chicago Board of Trade, said in a filing with the U.S. Securities and Exchange Commission it plans to use the offering proceeds for general corporate purposes, including the development of its technology infrastructure and financing possible acquisitions.
The lead underwriters are Credit Suisse First Boston and J.P. Morgan Chase & Co.
The CBOT plans to list on the New York Stock Exchange, with its shares trading under the symbol "BOT." (BOT.N: Quote, Profile, Research)
SOLID YEAR FOR EXCHANGE SHARES, DESPITE REFCO
The CBOT's offering has been closely watched over the past week, following mounting financial problems at commodities trader Refco Inc. (RFXCQ.PK: Quote, Profile, Research) .
Last week rumors in Chicago that Refco's woes would prompt the CBOT to delay its offering grew sufficiently loud that the CBOT came forward to rebut them.
Despite Refco's troubles, this has been a good year for shares of publicly traded U.S. exchanges, which have racked up gains even as the broad Standard & Poor's 500 index has declined 2.8 percent.
Shares of the Nasdaq Stock Market Inc. (NDAQ.O: Quote, Profile, Research) are up 178.7 percent for the year, with a Tuesday close of $28.43 on Nasdaq, while those of the CBOT's larger rival the Chicago Mercantile Exchange (CME.N: Quote, Profile, Research) are up 44.7 percent, closing Tuesday's NYSE trading at $330.95.
The CME came public in December 2002 at $35 a share.
http://yahoo.reuters.com/financeQuo...tfh23776_2005-10-18_21-40-01_n18364063_newsml