Chicago Board of Trade's stock rockets on first day after IPO.(Business)

0 Comments | Daily Herald (Arlington Heights, IL), October, 2005

Byline: Alexander V. Ragir Medill News Service Cameras flashed amid the cheers and hollers filling the Chicago Board of Trade as its stock surged 61 percent to a peak of $86.75 in its first half-hour of public trading Wednesday. Hovering around $85 for most of the day, shares of CBOT Holdings Inc., the holding company for the CBOT, settled to close at $80.30, up 49 percent from Tuesday's initial public offering price of $54.

The company's value swelled by $84 million to $256.3 million, thoroughly shaking off woes about the collapse of derivatives broker Refco Inc. "The IPO was a resounding success," said former CBOT Chairman Pat Arbor in a cell-phone interview as he left breakfast in the board room of the New York Stock Exchange. "Everyone in New York...