Third party securities transaction execution and clearing agent Penson Worldwide has revived its plan for an IPO, after a record first quarter, and as memories of the Refco demise recede into the past.
The Dallas-based firm filed an amended Securities and Exchange Commission (SEC) S-1 form on 9 May, aiming to sell 7.5 million shares at $15-17 apiece, which would give Penson a market capitalization of getting on for $400 million.
The IPO is led by JP Morgan Securities and Credit Suisse.