Chicago Board Options Exchange plans to issue an IPO to raise $300 million, restructuring it to a wholly owned subsidiary of CBOE Holdings Inc. from a non-stock member-owned corporation, according to an SEC filing.
Current CBOE members will receive 55.8 million shares of Class A common stock and former members will receive 12.2 million Class B shares, according to the filing.
The CBOE Holdings board of directors also plans to pay a dividend of $1.67 per share worth an aggregate $113.6 million.
CBOE aims to issue the IPO in the second quarter, according to the filing.
CBOE spokesman Gary Compton declined comment.