The 2012 attempted IPO of Bats Global Markets could not have gone any worse.Almost exactly four years ago the electronic stock exchange tried to go public on its own platform. But an embarrassing technical glitch prevented the stock from trading.
Ultimately, Bats was forced to kill its own IPO. The botched debut badly tarnished its reputation.It was the baseball equivalent of swinging and missing — and having the bat fly into the dugout, injuring your star pitcher.
But now Bats wants a redo. The Kansas City company on Monday launched an IPO road show in New York to test current investor appetite for its stock. Bats also filed regulatory filings detailing its planned IPO, which could come as early as next week.
Once again, Bats is planning to list the stock on its own exchange. That could be risky again because Bats still has no experience with corporate listings. In fact, this would be its first corporate listing.