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. Last Updated: 07/27/2016

LSE Value at $1.26 Bln

LONDON -- The London Stock Exchange, which plans to merge with Frankfurt's Deutsche Borse, was given a pounds 834 million ($1.26 billion) price tag Monday as trading in its shares commenced at pounds 28 ($42) each on a matched-bargain basis.

The LSE's 298 members each have 100,000 shares in the exchange, which produced a pre-tax profit of pounds 48.5 million ($72.6 million) in the year to March 31, 2000.