Bats IPO Turns Ugly

System error stymies equity exchange’s debut as public company.

You think you had a bad day?

Bats Global Markets Inc., the six-year-old equity exchange, saw its debut as a public company go haywire as a system error caused incorrect price quotes and Apple Inc. was halted due to a transaction on its platform.

Bottom of Range

The third-largest U.S. stock exchange operator raised $100.7 million in its initial public offering yesterday after selling shares at the bottom of the proposed range. Bats sold 6.3 million shares for $16 each on behalf of existing stockholders. The company had offered them for $16 to $18, according to a regulatory filing.

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