BATS Withdraws IPO

Tyler Durden's picture

The caped crusader will not save the day:

  • BATS WITHDRAWS IPO

Sheer humiliation for SkyNet (and all those momos who had hoped to flip their BATS shares, but were bailed out by a bidless HFT market once again) which just blew its own foot off.

From Bloomberg:

Bats Global Markets Inc. said it withdrew its initial public offering, according to an e-mailed statement. The company priced the deal yesterday.

 

“Although our affected market has reopened, in the wake of today’s technical issues, which affected the trading of certain stocks, including that of Bats, we believe withdrawing the IPO is the appropriate action to take for our company and our shareholders,” Joe Ratterman, the company’s chief executive officer, said in a statement.

 

Asked if the statement meant Bats isn’t going public, Randy Williams, a company spokesman, replied by e-mail, “Yes, that’s correct.”

And from the official PR:

"Although our affected market has reopened, in the wake of today's technical issues, which affected the trading of certain stocks, including that of BATS, we believe withdrawing the IPO is the appropriate action to take for our Company and our shareholders," said Joe Ratterman, chairman, president and CEO of BATS Global Markets.

No Waddell And Reed was scapegoating in the making of this epic HFT farce.