(Bloomberg) — Chi-X Global Holdings, a stock-market operator owned by Nomura Holdings Inc. and other banks, is exploring a sale that could fetch as much as $400 million, people with knowledge of the matter said.
Nomura and its co-investors are working with Moelis & Co. to sell the operator of equity venues in Australia, Canada and Japan, said the people, who asked not to be identified because the matter is private.
Chi-X has drawn interest from potential buyers including Nasdaq OMX Group Inc. and Singapore Exchange Ltd., the people said. The sale process was triggered after Chi-X received unsolicited offers for the company, one of the people said. Chi- Xs owners are focused on selling the company as a whole but may also consider breaking it up, the people said.
Representatives for Nomura, Moelis, Nasdaq and Singapore Exchange declined to comment.
Chi-X, created by Nomuras brokerage unit Instinet, competes with TMX Group Ltd. in Canada, ASX Ltd. in Australia and Japan Exchange Group Inc. Chi-X handles about 18 percent of Canadian stock trading, almost 10 percent of Australian volume and 1.3 percent of trading of Japans Nikkei 225 Stock Average.
Nomura is Chi-Xs controlling shareholder. Other investors include JPMorgan Chase & Co., Bank of America Corp., UBS Group AG, and Goldman Sachs Group Inc., according to company statements. Bats Global Markets Inc. bought Chi-Xs European division in 2011.
News of the potential sale drove a surge in trading of Nomuras U.S.-traded shares. Almost 420,000 shares changed hands at 2:08 p.m. New York time, almost 22 times more than during any other single minute Wednesday. The stock fell 0.5 percent to $6.44 as of 4 p.m.
