New York Mercantile Exchange (Nymex) set a price range of
$48 to $52 per share for its initial public offering last week.
The exchange, whose shareholders approved the IPO in a vote the
week previous, said it would price its shares in that range
although the total number of shares had not been announced.
Nymex had said in prior filings that an IPO may raise up to
$250m in common stock while most recently it said in its S-1
filing that $10m of that figure would go to metal division
Comex's members, who recently agreed in principle to settle a
dispute over the value of their electronic trading rights (see
FO Week Vol 11 No 38). Comex and Nymex members were to
vote on that measure in the coming weeks and it has largely
been expected to be passed by both groups.
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