Virtu Financial, a New York city-based high frequency trading firm, is seeking to raise around US$300 million in an initial public offering.
The firm set out its plans for a public listing in a regulatory filing Monday, which shows that it intends to sell about 16.5 million shares for between US$17 and US $19 per share (plus a 2.5 million share over-allotment option for its underwriters).
The firm, which trades in the U.S., Canada, Europe and Asia, plans to list on Nasdaq and trade under the symbol VIRT.
According to the prospectus filing, the firm had total revenues of between US$210 million and US$225 million in the quarter ended March 31, and net income of between US$70 million and US$76 million. The proceeds of the proposed offering would largely be used to provide liquidity to pre-IPO shareholders, including the firm’s management and private equity investors.
The list of underwriters on the deal includes Goldman Sachs, J.P. Morgan, Sandler O’Neill, BMO Capital Markets, Citi, Credit Suisse, Evercore Partners and UBS Investment Bank.