Exchange operator BATS Global Markets Inc said its initial public offering was expected to be priced at between $17 and $19 per share, valuing the company at up to $2 billion. The offering of 11.2 million shares, to be listed on the BATS Exchange, could raise as much as $212.8 million. All the shares in the offering are being sold by shareholders. The IPO is BATS' second attempt at going public. The company withdrew its IPO in 2012 following a series of glitches that resembled the 2010 "flash crash".
BATS is the second-largest US equities market operator, with four stock exchanges - BZX, BYX, EDGX and EDGA. The Kansas City, Missouri-based company also operates BATS' equity options market. BATS, an acronym for "better alternative trading system", said it intends to list under the symbol "BATS".