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Non-Tech : Interactive Brokers / Timberhill

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To: peter michaelson who wrote (7370)	5/4/2007 9:22:01 AM
From: RockyBalboa	Read Replies (1) of 9012

IPO REPORT Interactive Brokers' IPO raises $1.2 bln Richest IPO of 2007 draws strong interest By Steve Gelsi, MarketWatch Last Update: 8:28 AM ET May 4, 2007 NEW YORK (MarketWatch) -- Options-trading firm Interactive Brokers Group Inc. raised $1.2 billion in its stock market debut Friday as the richest IPO so far in 2007, even as movie theater chain AMC scrapped its deal in the face of downward price pressure. Tapping to a merger mania among exchange firms and fatter profits in the trading business, Interactive Brokers Group priced 40 million shares at $30.01 each through an online auction handled by banker W.R. Hambrecht. The pricing came in at the high end of the expected range of $27 to $31 a share, and the size of the offering was boosted from 34.5 million shares earlier in the week. Greenwich, Conn.-based IBG trades futures and foreign-exchange instruments as a member of more than 60 electronic exchanges and trading venues worldwide. The IPO comes amid rapid cross-border consolidation in the exchange industry as technology reshapes markets in all sorts of financial instruments. See full story. IBG founder and chief executive, Thomas Peterffy, 62, who owns about 85% of the company, once took part in the auction for the bankrupt derivatives trading firm Refco in 2005. He's been a longtime proponent of electronic trading. Interactive Brokers Group eclipsed the $1.15 billion IPO from MetroPCS as the richest IPO of the year. Soon to come, however, is the $4 billion IPO from The Blackstone Group. The deal from the private equity giant has yet to set an estimated price range after filing to go public on March 22. AMC Entertainment scraps IPO AMC Entertainment failed to get its $700 million IPO off the ground even after the movie theater chain cut the price range to $17-$18 a share from $18-$20 a share. The money-losing company failed to draw interest despite the dawn of a promising summer blockbuster movie season with Spider-Man and Shrek movies on tap.

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