05 July 2015

Markit raises $1.3bn in IPO

19 June 2014  |  2732 views  |  0 Nasdaq time square New york

Financial data outfit Markit has raised $1.3 billion in an initial public offering after increasing the number of shares sold.

The firm offered 53.5 million shares - up from the originally planned 45.7 million - at $24 a share, the midpoint of the $23 to $25 range previously set. This gives Markit - which is listing on the Nasdaq - a market value of around $4.5 billion.

The shares are being offloaded by 12 of Markit's bank owners, which include Bank of America Corp, Deutsche Bank and Goldman Sachs. The company will not receive the proceeds

Founded in 2003, Markit has grown to rival Thomson Reuters and Bloomberg as a third force in the provision of financial information to banks worldwide and now claims more than 3000 institutional customers.

The firm has expanded beyond its initial focus of providing pricing for the credit markets through a series of acquisitions to include post-trade processing, risk analytics and, most recently, KYC services.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

22 May, 2014
14 January, 2014
07 October, 2013
26 June, 2013
22 May, 2013

Related company news

 

Top topics

Most viewed Most shared
Barclays takes on Apple with wearable paym...
9068 views comments | 39 tweets | 35 linkedin
Singapore pledges S$225m to fintech
8369 views comments | 31 tweets | 23 linkedin
US banks pump $16.6bn into digital transfo...
7251 views comments | 36 tweets | 24 linkedin
Greeks flock to Bitcoin
6164 views comments | 31 tweets | 18 linkedin
UK payments regulator calls for 'pipes and...
5710 views comments | 27 tweets | 20 linkedin

Featured job

£90-110K Basic Circa £200-250K OTE NO CEILING
London

Find your next job