BATS to renew IPO push to fund expansion -paper
FRANKFURT, July 23
FRANKFURT, July 23 (Reuters) - BATS Global Markets will make another attempt to list after a failed initial public offering in March, Mark Hemsley, Chief Executive for BATS Chi-X Europe told German daily Handelsblatt.
"Through an initial public offering we want to fill our war chest for possible acquisitions," Hemsley told the paper, adding it could use the proceeds to buy alternative trading platforms such as MTF, or to make an expansion push into derivatives.
A spokeswoman for BATS Europe clarified an attempted listing could come within the next 12 months.
The decision came on the heels of BATS' attempted initial public offering, in which a series of glitches on its own exchange caused the company to take the extremely rare step of withdrawing the offering.
BATS, an acronym for Better Alternative Trading System, is the third-largest U.S. stock exchange behind the New York Stock Exchange and Nasdaq. It recently completed the cross-Atlantic takeover of alternative trading venue Chi-X Europe. (Reporting By Edward Taylor; Editing by Jon Loades-Carter)
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