11 05 2016

Bats Global Markets, Inc.'s $290.6 Million Initial Public Offering

Davis Polk advised Bats Global Markets, Inc. on its $290.6 million initial public offering of 15,295,000 common shares sold by certain selling shareholders, which included an upsize of 2,100,000 common shares before pricing and an additional 1,995,000 common shares from the subsequent full exercise of the underwriters’ exercise to purchase additional shares.


The common shares are listed on the Bats BZX Exchange, Inc., under the symbol “BATS.” Bats is a leading global operator of securities exchanges and other electronic markets, providing trade execution, market data, trade reporting, connectivity and risk management solutions to brokers, market makers, asset managers and other market participants. The firm led by Christopher R. Concannon, Christopher A. Isaacson, Brian N. Schell, Mark Hemsley and Bryan Harkins, is based in Based in Lenexa, Kansas. Bats aims to improve markets by maximizing efficiency and mitigating trade execution risk for market participants. The company’s current asset classes include listed cash equity securities in the United States and Europe, listed equity options in the United States and institutional spot FX globally, as well as exchange-traded products, including exchange-traded funds, in the United States and Europe. The Davis Polk corporate team included partner Deanna L. Kirkpatrick (Picture) and associate Connor Kuratek. The executive compensation team included partner Jean M. McLoughlin and associate Geoffrey E. Walter. The tax team included partner Neil Barr and associates Kay Ng and Veronica Orecharova. Counsel Zachary J. Zweihorn provided regulatory advice. Partner Leonard Kreynin provided M&A advice. Involved fees earner: Deanna Kirkpatrick - Davis Polk & Wardwell; Connor Kuratek - Davis Polk & Wardwell; Jean M. McLoughlin - Davis Polk & Wardwell; Geoffrey Walter - Davis Polk & Wardwell; Neil Barr - Davis Polk & Wardwell; Kay Ng - Davis Polk & Wardwell; Veronica Orecharova - Davis Polk & Wardwell; Zachary J. Zweihorn - Davis Polk & Wardwell; Leonard Kreynin - Davis Polk & Wardwell;

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