CBOE begins tender offers for certain stock

By Reuters
Posted Oct. 13, 2010 at 10:39 a.m.

CBOE Holdings Inc. on Wednesday said it was launching two concurrent tender offers for its class A-1 and class A-2 common stock each at a price of $22.50 per share.

CBOE Holdings, the parent of the Chicago Board Options Exchange, said it expects to fund the offers from the proceeds of its initial public offering.

CBOE Holdings made its debut on June 15, the last major North American exchange to become a publicly traded company company.

The tender offers cover 6,648,570 shares of its class A-1 common stock and 6,648,570 shares of its class A-2 common stock and are set to expire on Nov. 12, CBOE said in a statement.

Former CBOE seat holders and members of a settlement class in CME Group Inc. own these classes of stock, which is subject to transfer restrictions and cannot be sold in the public market.

On June 18, CBOE Holdings raised $301.4 million by issuing about 11.4 million shares of its common stock to the public in an IPO.

CBOE also said that shareholders sold an additional 2.1 million shares of common stock in the IPO, resulting in a public float of about 13.5 million shares.


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CBOE Holdings

CBOE Holdings Inc. claims it is the largest option exchange in the United States. The company, in addition to its core options trading business, provides marketplaces for trading futures contracts...

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