Virtu Financial (VIRT) Sees IPO Price of $17 - $19/Share

Virtu Financial, Inc. (Nasdaq: VIRT) filed an amended registration with the U.S. SEC for an Initial Public Offering of its Common Stock. The company plans to sell 16,532,272 shares of its common stock and sees an offering price of $17 to $19 per share. The company plans to list on the Nasdaq Stock Market under the symbol "VIRT."

The offering is being made via Goldman, Sachs & Co., J.P. Morgan, Sandler O'Neill + Partners, L.P., Barclays, BMO Capital Markets, Citigroup, Credit Suisse, and UBS Investment Bank.

Following the launch, the company will have 31,899,012 class A common shares, 24,708,063 class C common shares, and 79,902,009 class D common shares outstanding. At the high-end of the pricing range, valuation hovers around $2.6 billion.

Financial summary from the company: "For the years ended December 31, 2013 and 2012, our total revenues were approximately $664.5 million and $615.6 million, respectively, our trading income, net, was approximately $623.7 million and $581.5 million, respectively, our Adjusted Net Trading Income was approximately $414.5 million and $366.3 million, respectively, our net income was approximately $182.2 million and $87.6 million, respectively, and our Adjusted Net Income was approximately $215.4 million and $188.3 million, respectively. For the year ended December 31, 2013, we earned approximately 27% of our Adjusted Net Trading Income from Americas equities, 11% from EMEA equities, 11% from APAC equities, 23% from global commodities, 20% from global currencies and 9% from options, fixed income and other securities."

Virtu Financial is a technology-enabled market maker and liquidity provider to the global financial markets.

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