Exchange Operator MIAX Jumps 34% After $345 Million IPO (3)

Miami International Holdings Inc. rose 34% from its initial public offering price as the exchange operator became the most recent financial services business to get a warm welcome in its trading debut.

Shares closed at $30.74 each on Thursday, versus an IPO price of $23. MIAX, as the company is known, raised $345 million in a heavily oversubscribed deal that priced above the marketed range of $19 to $21 apiece. The trading gives MIAX a market value of $2.4 billion based on the outstanding shares listed in its filings.

MIAX operates nine securities and derivatives exchanges, and has a ...