Chicago's options exchange to file for $300 mn IPO

The Chicago Board Options Exchange, the last major private exchange in the US, has filed for an initial public offering with the Securities and Exchange Commission, to raise up to $300 million.

The public issue is likely to take place with the proposed demutualisation of Chicago Board Options Exchange Incorporated, currently the parent corporation of CBOE Holdings.

CBOE Holdings Inc said it will use the net proceeds from shares sold by the company for general corporate purposes, including the repurchase of shares of the common stock to be issued to CBOE members in the demutualisation.

It hopes to complete demutualisation and the initial share sale by the end of the second quarter of 2010, but did not specify the number of shares to be offered and price range for the offering.

The sole global coordinator of the offering will be Goldman, Sachs & Co.

CBOE is the largest platform for options trading in the US and the fourth largest derivatives exchange by contract volume in the world.