Liquidnet Files to Raise $500 Million in IPO

The global electronic marketplace for institutional investors is going public. By Ivy Schmerken Electronic trading network Liquidnet Holdings Inc. has filed to raise up to $500 million in an initial public offering (IPO) with the Securities and Exchange Commission (SEC), signalling that the alternative trading system (ATS) is entering a new phase of its development. Liquidnet is an electronic marketplace for institutional investors to trade equity securities worldwide through a software application they can access over the Internet. The company will sell shares held by members of senior management, including founder, president and CEO Seth Merrin and his wife Ann Heyman, as well as board of directors and private equity firms, according to the filing. The offering will be structured in two classes of stock, A and B. The... [read full story]