Instinet Hopes to Price IPO at $11-$14 a Share

Electronic brokerage Instinet filed an amendment to the company's registration statement for an initial public offering, indicating that the Reuters (RTRSY Quote) unit hopes to price the shares in the issue at $11 to $14 each.

Instinet first filed for the IPO in February. According to the amended statement, which was filed with the Securities and Exchange Commission, the company will offer up to 33.9 million shares, including the overallotment option. The shares will represent about 14.1% of Instinet's capital stock outstanding after the IPO. ...