Markets

Financial data titan Markit sets terms for $1.1 billion IPO

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 Nasdaq, Inc.


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

Other Topics

IPOs

Latest Markets Videos

    Renaissance Capital

    Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products.

    Learn More