Davis Polk Reps BATS In Potential $100M IPO

Law360, New York (May 13, 2011, 6:28 PM EDT) -- Exchange operator BATS Global Markets Inc. said in a regulatory filing Friday that it was planning to raise up to $100 million in an initial public offering as it faces intense competition and increasing consolidation in the trading industry.

The third-largest exchange operator in the U.S. behind NYSE and Nasdaq, BATS filed a preliminary prospectus with the U.S. Securities and Exchange Commission saying it intends to list class A common shares on a stock market under the symbol BATS.

The filing, which did not disclose the...
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