Discussion in 'Stocks' started by rateesquad, Nov 13, 2006.
NMX.....NY Mercantile Exchange???
Hmmm....looks like a goldmine to me......IPO baby
It will open up 60%...My best guess!!!
1st price out to the open in the high 60's....
Whats your guess?
Same, maybe 100% in first week....ok at least 25%.
quote from bloomberg:
Shares of Intercontinental Exchange Inc., Nymex's chief rival, have tripled since its November 2005 debut. The Chicago Mercantile Exchange has risen more than 14-fold since it went public in 2002. The Chicago Board of Trade, which last month agreed to merge with the CME, sold shares for the first time in October 2005. The stock has almost tripled since then.
I'm in on it.
I need some nice IPO ass since I missed out on MasterCard.
Please be another MA....
Tight limit orders, though?
NYMEX Sets IPO
Associated Press 11.10.06, 11:27 AM EST
NYMEX Holdings Inc., owner of the New York Mercantile Exchange and the COMEX commodity exchange, and its shareholders plan to sell 6 million shares of stock in an initial public offering, hoping to raise up to $312 million.
The company expects the IPO price range to be between $48 and $52 per share. NYMEX will sell 4.9 million shares, and stockholders plan to sell an additional 1.1 million.
NYMEX said it has no specific plans for the expected $220.2 in net IPO proceeds, other than a $10 million payment to the owners of COMEX division memberships, as required by a 1994 merger agreement. The company said it will use the proceeds for general corporate purposes, capital spending and working capital. The company said the purposes for the offering include providing increased visibility in the marketplace.
Through its subsidiaries, NYMEX offers platforms to trade everything from crude oil to natural gas to gold.
Among its competitors, NYMEX said domestic, foreign and over-the-counter exchanges all fight for the same trading volume that is the lifeblood of their businesses. As an example, it said IntercontinentalExchange Inc., or ICE, is engaged in the trading of several energy instruments that are financially equivalent to those traded on its own exchange.
NYMEX's selling shareholders include Man Group Finance Inc., Calyon Financial Inc. and Bear, Stearns Securities Corp.
The offering's underwriters include J.P. Morgan Securities, Merrill Lynch, Banc of America Securities, Citigroup Global Markets, Lehman Brothers and Sandler O'Neill & Partners.
NYMEX plans to trade under the ticker "NMX" on the New York Stock Exchange.
Just curious who else will buy this one on Thursday???
I'll be there watching..
Nymex Cuts Staff Ahead of IPO
Associated Press 11.13.06, 4:28 PM ET
Ahead of its initial public offering this week, the New York Mercantile Exchange has sliced its work force by 8 percent since late August.
The job cuts are part of a plan the 134-year-old exchange is calling "reduction in force," which has been put in place to trim fat as it prepares to list on the New York Stock Exchange.
The world's largest energy-futures trading platform and the nation's third-largest futures exchange has reduced its workers to 505, from 548 as of Aug. 23, Nymex spokeswoman Anu Ahluwalia said Friday.
Nymex, which took a $3.8 million charge on severance-related costs in its third-quarter earnings, wouldn't say how many employees had taken a severance offer made in August.
Nymex stock, which is due to be priced Thursday, is expected to start trading on the New York Stock Exchange Friday under the code "NMX."l
I'm getting skeered of the NMX IPO....
Alright, serious question -
Who in the hell is going to get this at pre-open price?
They just increased the initial price by 10%.
But it will be like shooting fish in in a barrel (scalp)!
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