Electronic stock exchange Archipelago is expected to sell approximately one-fifth of its shares for $150 million in an IPO, valuing the firm at $750 million.
In a registration statement filed with the Securities and Exchange Commission late Tuesday, Archipelago says the company's stock will be listed on its own exchange.
Archipelago reported 2003 net income of $1.9 million and revenue of $458 million, up from a net loss of $35 million and revenue of $358 million in 2002.
Stakeholders include General Atlantic Partners, Goldman Sachs, E*Trade, JPMorgan, American Century Companies, and Instinet.