Exchange Operator Miami International Raises $345 Million in IPO

Miami International Holdings Inc. raised $345 million in an initial public offering, pricing its shares above a marketed range.

The US exchange operator also known as MIAX sold 15 million shares Wednesday for $23 each after marketing them for $19 to $21 apiece, according to a statement.

At the IPO price, MIAX would have a market value of $1.8 billion, based on the outstanding shares listed in its filings with the US Securities and Exchange Commission. Accounting for employee stock options, warrants and restricted stock units, the company would have a fully diluted value of roughly $2.5 billion.

The ...