MIAX-parent Miami International's US IPO filing reveals wider quarterly loss

Reuters
19 Jul
UPDATE 2-MIAX-parent Miami International's US IPO filing reveals wider quarterly loss

Adds detail throughout

July 18 (Reuters) - MIAX-parent Miami International Holdings on Friday reported a wider quarterly loss in its filing for a U.S. initial public offering, as investor interest in IPOs shows signs of revival.

The U.S. IPO market, which faced a steep decline during the April selloff driven by volatile trade policies, has recently seen renewed activity, with high-profile debuts.

In the past month, stablecoin issuer Circle Internet CRCL.N and digital bank Chime Financial CHYM.O were warmly received on their market debuts.

The Princeton, New Jersey-based exchange operator disclosed a net loss of $21.4 million for the three months ended March 31, compared to a loss of $5 million in the same period last year.

Total revenue for the quarter rose to $327.1 million from $272.9 million a year earlier.

Details regarding the terms of the IPO, however, were not included in the filing.

Proceeds from Miami International's offering will be allocated to debt repayment, acquisitions, or investments in businesses and technologies, the company said.

Healthcare firm Heartflow and space and defense company Firefly also filed for IPOs earlier this month.

Miami International launched its first exchange, MIAX, for options trading in December 2012, leveraging management expertise in the equity options market.

MIAX operates nine exchanges that provide access to U.S. multi-list options and equities, futures via the MIAX Futures Exchange, and international capital markets through the Bermuda Stock Exchange $(BSX)$ and The International Stock Exchange (TISE), according to its website.

The company plans to list its shares on the New York Stock Exchange under the ticker symbol "MIAX". J.P.Morgan, Morgan Stanley and Piper Sandler are the lead underwriters for the offering.

(Reporting by Prakhar Srivastava in Bengaluru; Editing by Shailesh Kuber and Mohammed Safi Shamsi)

((Prakhar.srivastava2@thomsonreuters.com;))

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