28 May 2015
Your browser is unable to support Flash files.

Markit raises $1.3bn in IPO

19 June 2014  |  2646 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

 
Your browser is unable to support Flash files.

Top topics

Most viewed Most shared
UK opts out of European online payments se...
7694 views comments | 22 tweets | 17 linkedin
Bigger banks may have to set up their own...
6503 views comments | 41 tweets | 34 linkedin
Postbank trials HCE mobile payments
4698 views comments | 9 tweets | 9 linkedin
JPMorgan Chase puts data to use with new t...
4687 views comments | 16 tweets | 7 linkedin
Visa Europe opens innovation hub in Israel
4277 views comments | 17 tweets | 9 linkedin

Featured job

£excellent basic with £200,000 OTE + Benefits
London

Find your next job