BofA becomes bookrunner for Nymex
Nymex Holdings Inc. has named Bank of America Corp. one of the three bookrunners on its $900 million secondary offering of its stock, according to Financial News.
Nymex Holdings Inc. has named Bank of America Corp. one of the three bookrunners on its $900 million secondary offering of its stock, according to Financial News.
Charlotte, N.C.-based BofA joins JPMorgan Chase & Co. and Merrill Lynch & Co. Inc., both based in New York, which led the November IPO.
NYMEX shares have more than doubled since the exchange went public in November.
After being issued at $59, shares of the exchange have soared to $128.60 in morning trading.
Selling shareholders are offering seven million shares in the secondary offering, while directors and executives are officers selling 967,700 shares worth $1.2 million, according to the report.
Last month the exchange agreed to a joint venture with the Montreal Exchange, in which Nymex will purchase a 10% stake in the Canadian derivatives market that will lead to the creation of a joint company that will serve the Canadian energy industry (InvestmentNews, February 14) .
In January Nymex decided to close its London-based Nymex Europe exchange, which was launched in the U.K. less than two years earlier (InvestmentNews, January 24) .
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