Clear Street Group said Wednesday its proposed initial public offering will consist of about 23.8 million class A common shares expected to be priced between $40 and $44 apiece.

Funds managed by BlackRock (BLK) have indicated an interest in buying up to $200 million worth of shares, Clear Street said in its preliminary prospectus filed with the US Securities and Exchange Commission.

Underwriters were granted a 30-day option to purchase up to about 3.6 million additional shares at the IPO price, the company said.

Net proceeds from the offering are expected to be about $922.4 million or about $1.06 billion if the overallotment option is fully exercised, which will be used for working capital, capital expenditures and general corporate purposes, Clear Street said.

The capital markets company said it has applied to list its class A common stock under the symbol "CLRS" on the Nasdaq Global Select Market.