Virtu Financial, a high-frequency electronic trading firm and market maker, announced terms for its IPO on Monday.
The New York , NY-based company plans to raise $298 million by offering 16.5 million shares at a price range of $17 to $19. At the midpoint of the proposed range, Virtu Financial would command a market value of $2.5 billion.
Virtu Financial, which was founded in 2008 and booked $723 million in sales for the 12 months ended December 31, 2014, plans to list on the NASDAQ under the symbol VIRT. Goldman Sachs, J.P. Morgan, Sandler O'Neill, BMO Capital Markets, Citi, Credit Suisse, Evercore Partners and UBS Investment Bank are the joint bookrunners on the deal. It is expected to price during the week of April 13, 2015.
