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From: TFF	5/1/2007 4:12:24 PM
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Interactive Brokers doubles IPO to $1 billion By Steve Gelsi, MarketWatch Last Update: 3:47 PM ET May 1, 2007 NEW YORK (MarketWatch) -- Interactive Brokers Group Inc. is picking up tailwinds from a major merger deal in its sector as the brainchild of Hungarian entrepreneur Thomas Peterffy readies its $1 billion initial public offering for later this week. The profitable Greenwich, Conn., futures and equities market maker and trading firm nearly doubled the size of its IPO the same day International Securities Exchange said in a filing late Monday it will offer 34.5 million shares at $27 to $31 apiece. That's up from its earlier IPO terms of 20 million shares at $23 to $27. It's expected to price on Thursday for trading on Friday. Peterffy, 62, owns about 85% of the company. Entities that he controls will receive about $830 million in proceeds based on an IPO price of $29 a share, according to company filings. Peterffy, who took part in the auction for bankrupt derivatives trading firm Refco in 2005, has been a long-time proponent of electronic trading. Emigrating from Hungary to the U.S. in 1965, he worked for 10 years as a computer programmer before joining the American Stock Exchange in 1977. As an individual floor trader, he founded the firm that became Interactive Brokers Group, where he now is president and CEO. The firm trades futures and foreign-exchange instruments as a member of more than 60 electronic exchanges and trading venues worldwide. WR Hambrecht, HSBC and Fox-Pitt Kelton are underwriting the IPO. The shares are expected to trade on Nasdaq under the symbol IBKR. Interactive Brokers Group reported net income for 2006 rose 37% to $734 million from $536 million in 2005. Revenue rose 14% to $1.25 billion from $1.1 billion.

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