Bats Global Markets reportedly is moving closer to stock IPO

Bats Global Markets, the Lenexa-based electronic stock exchange operator making its second swipe at a public offering, will begin meeting with investment firms to arrange the deal as soon as next week, sources told Bloomberg News.

The timing positions it to be one of the first U.S. initial public offerings of 2016 outside of the health care industry, and the biggest company so far at a market value of about $2 billion, sources told Bloomberg.

Stock market volatility and wary investors have kept the IPO market quiet so far in 2016. Only nine companies have listed on American exchanges, the slowest start to the year since the recession.

It’s not Bats’ first time at the IPO altar.

The company flubbed its first attempt to go public on its own exchange four years ago because of an error in its trading software. The company is again planning to list its own shares under the ticker BATS, according to its prospectus.

Randy Williams, a spokesman for Bats, declined to comment on any possible meetings with investment firms.

Bats was formed more than 10 years ago by a consortium of financial institutions to rival the New York Stock Exchange and Nasdaq Stock Market in technology, speed and pricing. It has grown to become the second largest U.S. stock exchange operator, behind NYSE. Its owners include JPMorgan Chase & Co., Goldman Sachs Group, KCG Holdings and Citadel.

The company filed with an offering size of $100 million.

This story was originally published April 1, 2016 at 2:11 PM with the headline "Bats Global Markets reportedly is moving closer to stock IPO."