Financial data titan Markit sets terms for $1.1 billion IPO

By
A A A

Markit, which provides bond and loan information and derivatives trade processing services, announced terms for its IPO on Tuesday. The London, United Kingdom-based company plans to raise $1.1 billion by offering 45.7 million shares (100% insider) at a price range of $23 to $25. At the midpoint of the proposed range, it would command a fully diluted market value of $5.0 billion.

Markit, which was founded in 2003 and booked $980 million in sales for the 12 months ended March 31, 2014, plans to list on the NASDAQ under the symbol MRKT. It initially filed confidentially on January 27, 2014. BofA Merrill Lynch, Barclays, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley, UBS Investment Bank, BNP Paribas, Jefferies, RBC Capital Markets, RBS and TD Securities are the joint bookrunners on the deal. It is expected to  price the week of June 16, 2014 .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

Referenced Stocks:

Renaissance Capital

Renaissance Capital

More from Renaissance Capital:

Related Videos

Stocks

Referenced

Most Active by Volume

17,372,340
  • $102.19 ▲ 0.06%
12,829,603
  • $16.04 ▼ 0.99%
10,701,330
  • $49.23 ▲ 2.43%
8,532,227
  • $13.209 ▼ 3.44%
7,247,497
  • $10.94 ▼ 2.32%
6,793,827
  • $74.02 ▼ 0.82%
6,753,790
  • $19.20 ▼ 0.05%
6,538,051
  • $3.60 ▲ 0.28%
As of 8/28/2014, 10:14 AM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com