10.10.2006
IPO of CBOE delayed
The IPO of the leading American Derivate exchange Chicago Board Options Exchange (CBOE) has been delayed for statuary and juridical reasons, according to CBOE chairman William Brodsky. Brodsky would not confirm any date. He says that the CBOE needs to become a public company in the first place, which would entail an examination process by the US Securities and Exchange Commission (SEC) of six to nine months. Another factor to delay the IPO is the pending legal case with the Chicago Board of Trade (CBoT). CBoT had initiated a lawsuit against the CBOE this August to clarify the subscription rights of existing shareowners in the forthcoming IPO. The Chicago Merchantile Exchange (CME) already went public in 2002 and the International Securities Exchange (ISE) in April 2005. The IPO of the CBoT followed in October 2005.
Source: Neue Zürcher Zeitung
You may also want to read this related Weblog post:
CBOE launches index on US exchanges
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