initial public offerings (IPOs) trading on American exchanges

Thursday, March 13, 2014

Silver Lake-backed Virtu Financial to cap five years of trading success with $100m IPO

Silver Lake Partners-owed electronic trading business Virtu Financial has filed to raise $100m by listing on the Nasdaq stock exchange.

The tech-focused private equity house bought into Virtu by backing a merger of the company with Madison Tyler in 2011.

A filing with the US securities regulator shows Virtu experienced just a single day’s trading losses between the start of 2009 and the end of 2013.

Last year it had a net income of about $182m on revenues of $623m, up from $87.6m on $581.5m of revenues in 2012.

Goldman Sachs, JP Morgan and Sandler O’Neill + Partners are among the lead underwriters for the share sale.

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