Miami International Holdings (MIAX.US) IPO pricing at $23 per share breaks the upper limit and will debut on the NYSE tonight.

Miami International Holdings (MIAX.US), which operates four US options exchanges as well as stock and futures exchanges, announced IPO pricing terms on Thursday. The company is issuing 15 million shares at a price of $23 per share, raising $345 million. This offering price is higher than the expected price range of $19 to $21 per share. Based on the current pricing, the company, headquartered in Princeton, New Jersey, has a fully diluted market value of $2.3 billion. Miami International common stock will begin trading on the New York Stock Exchange on August 14 under the symbol "MIAX". Miami International Holdings, established in 2007, has built a diversified market ecosystem leveraging its proprietary trading technology: MIAX Options, MIAX Pearl, MIAX Emerald, and MIAX Sapphire platforms focus on US options trading; MIAX Pearl Equities provides US stock trading services; MIAX Futures Exchange offers US futures services; and it expands its international listing business through the Bermuda Stock Exchange and International Securities Exchange Group. For the six-month period ending on June 30, 2025, the average daily trading volume of US options on MIAX exchanges was 8.7 million contracts, compared to 6.5 million contracts in the same period in 2024. J.P. Morgan, Morgan Stanley, Piper Sandler, Keefe Bruyette Woods, Raymond James, William Blair, and Rosenblatt Securities are joint underwriters for this IPO.