Anyone else getting this? Edit: Nvm, probably this. NEW YORK (AP) -- Automated electronic broker Interactive Brokers Group Inc. said Monday that WR Hambrecht & Co. will lead an offering of up to 50 million class A shares in a Dutch auction after the market closes Wednesday. The company can choose to sell up to 50 million shares at or above $33.50 per share. No bids below $33.50 will be accepted in the auction. Interactive Brokers has agreed not to register another public offering of shares until at least April 15, 2009, and will deregister any unsold shares that remain after the auction. In a Dutch auction, prospective shareholders submit an offer to buy shares within a range set by the company. The company then determines the purchase price based on the offers submitted. Shares of Interactive Brokers fell 67 cents to $31.18 in morning trading.
OMG!!!!!!!!!!!!!!!!!!!!!!!!!! Nah, just the follow on auction. You can change your diapers now. Speaking of which, I see retail cant view the actual auction process, only institutions, and I was told IB didnt handle this sale through their platform. Strange.
I would guess that even at 33.x they will all 50 million shares to the float. it is like a large ocean liner now.
On conference call IB CEO stated that institutions wanted in but float was too small. So obviously institutions will be willing to pay up slightly for size. We should get auction result shortly anyhow.