Miami International Holdings (MIH) has completed its initial public offering following a successful roadshow that initially targeted 15,000,000 shares at $19–$21 per share. The offering priced above range at $23 per share, raising $345 million before the underwriters’ option. Shares of MIH began trading on the New York Stock Exchange under the ticker symbol “MIAX” on August 14, 2025, with J.P. Morgan, Morgan Stanley, and Piper Sandler serving as lead joint bookrunning managers alongside Keefe, Bruyette & Woods, Raymond James, William Blair, and Rosenblatt.
On August 15, MIH announced the closing of the IPO and the full exercise of the underwriters’ 30-day option to purchase an additional 2,250,000 shares, bringing gross proceeds to $396.75 million before expenses. MIH operates a broad portfolio of financial exchanges, including its MIAX options and equities platforms, MIAX Futures, MIAX Derivatives Exchange, and Dorman Trading, along with international holdings such as the Bermuda Stock Exchange and The International Stock Exchange. The IPO marks a major milestone as MIH expands its reach across regulated markets in the U.S. and abroad.
