Hobbs
10-13-2006, 12:43 AM
New York Mercantile Exchange seat owners are expected today to overwhelmingly approve plans to take the market public, a deal that could make each seat worth almost $4.5 million.
The IPO is likely to transform the 134-year-old downtown energy market into a public company that could be worth well over $5 billion.
Should the Nymex's initial public offering go as planned, the exchange's members will receive about 90,000 shares of stock for each seat they own.
The Nymex plans to price its shares between $48 and $50 each - making each seat worth about $4.5 million, according to sources close to the IPO.
http://www.nypost.com/seven/10122006/business/nymexs_members_get_rich_business_zachery_kouwe.htm
The IPO is likely to transform the 134-year-old downtown energy market into a public company that could be worth well over $5 billion.
Should the Nymex's initial public offering go as planned, the exchange's members will receive about 90,000 shares of stock for each seat they own.
The Nymex plans to price its shares between $48 and $50 each - making each seat worth about $4.5 million, according to sources close to the IPO.
http://www.nypost.com/seven/10122006/business/nymexs_members_get_rich_business_zachery_kouwe.htm