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Interactive Brokers Group to sell up to 50 million shares

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May 5, 2008

NEW YORK—Automated electronic broker Interactive Brokers Group Inc. said Monday that WR Hambrecht & Co. will lead an offering of up to 50 million class A shares in a Dutch auction after the market closes Wednesday.

The company can choose to sell up to 50 million shares at or above $33.50 per share. No bids below $33.50 will be accepted in the auction.

Interactive Brokers has agreed not to register another public offering of shares until at least April 15, 2009, and will deregister any unsold shares that remain after the auction.

In a Dutch auction, prospective shareholders submit an offer to buy shares within a range set by the company. The company then determines the purchase price based on the offers submitted.

Shares of Interactive Brokers fell 67 cents to $31.18 in morning trading.

© Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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