The American stock exchange operator that was forced to scrap its float following technical glitches on its own computers is planning a second attempt at an initial public offering.
BATS Global Markets is said to be eyeing a float next year and could file documents with the US regulator, the Securities and Exchange Commission, in a matter of weeks.
The exchange operator, which is one of the biggest, will be hoping the IPO goes far more smoothly that its first try, when BATS’s debut on its own exchange went catastrophically wrong.
In March 2012, BATS shares plunged almost as soon as the stock began trading. The drop was caused by faults with BATS’s computer systems and forced the Kansas-based company to take the highly unusual step of cancelling the float.
However, the Wall Street Journal has reported that the firm has now revived its IPO ambitions.
Including debt, the company, which was founded 10 years ago, could have a valuation of more than $2bn, the WSJ said. The float is once again slated to take place on BATS’s own exchange, but the company will carry out rigorous tests to ensure the IPO is not botched a second time.
A spokesman for BATS declined to comment.