Miami International slips as investors look to slice stake in secondary offering

Exchange operator Miami International's MIAX.N shares down 2.1% at $44.85 in extended trading

MIAX kicks off secondary offering of 6.75 million shares to be sold by certain selling stockholders

J.P. Morgan, Morgan Stanley and Piper Sandler are lead joint bookrunning managers for the offering

Buyout firm Warburg Pincus, trading firm Wolverine, and Hudson River Trading, among more than a dozen selling stockholders that may sell in the offering, according to prospectus

MIAX went public in New York in August after a $345 million IPO

Three of six brokerages rate the stock "buy" or higher and three "hold"; median PT $46 — data compiled by LSEG

As of last close, MIAX stock has nearly doubled since August debut