26 April 2017
visit nextgenbanking.co.uk

Markit raises $1.3bn in IPO

19 June 2014  |  3687 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)

Finextra news in your inbox

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

Related stories

Markit and Genpact launch KYC service

Markit and Genpact launch KYC service

22 May 2014  |  11219 views  |  2 comments | 5 tweets | 2 linkedin
Markit enters OMS arena with thinkFolio acquisition

Markit enters OMS arena with thinkFolio acquisition

14 January 2014  |  5875 views  |  0 comments | 1 tweets | 4 linkedin
Banks and Thomson Reuters join Markit messaging network

Banks and Thomson Reuters join Markit messaging network

07 October 2013  |  6272 views  |  0 comments | 3 tweets | 3 linkedin
Markit sounds out banks about IPO - Reuters

Markit sounds out banks about IPO - Reuters

26 June 2013  |  4592 views  |  0 comments | 2 tweets | 1 linkedin
Temasek acquires 10% stake in Markit

Temasek acquires 10% stake in Markit

22 May 2013  |  6260 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comFind out morevisit dh.com

Top topics

Most viewed Most shared
hands typing furiouslyDoes the Buck Stop with GameStop?
15535 views 0 | 3 tweets | 14 linkedin
BBVA runs live funds transfers over RippleBBVA runs live funds transfers over Ripple
11580 views comments | 31 tweets | 20 linkedin
hands typing furiouslyBitcoin ETF Bites the Dust, Needs More Sec...
10386 views 0 | 7 tweets | 7 linkedin
Alipay and WeChat near $3 trillion payments milestoneAlipay and WeChat near $3 trillion payment...
9787 views comments | 35 tweets | 38 linkedin
Coinbase plans Ethereum messaging appCoinbase plans Ethereum messaging app
8858 views comments | 14 tweets | 15 linkedin

Featured job

to 120K base, £300K ote, stock options
London, UK

Find your next job