Bats Global Markets aims to raise over $244 million in an initial public offering (IPO), according to a filing with the US Securities and Exchange Commission (SEC).
According the filing, Bats anticipates the IPO price will be between $17 and $19 per share, and are intent to sell 11.2 million shares in the offering.
Underwriters have the option of purchasing up to an additional 1.7 million shares.
Instead of listing on the New York Stock Exchange or Nasdaq, it has decided to list on its own Bats BZX Exchange.
In addition the thirteen banks and brokers that own Bats, including JP Morgan, Citi, Morgan Stanley and Goldman Sachs, will retain 82% of the voting power of the company’s capital stock after the offering.
The filing comes two months after Bats adopted a global rebrand, while also dropping the Chi-X name for its European exchange.