Liquidnet to raise $500m in IPO

Liquidnet to raise $500m in IPO

US electronic trading network Liquidnet has filed for a $500 million initial public offering (IPO) with the US Securities and Exchange Commission (SEC).

In a statement, New York-based Liquidnet says terms have not yet been set for the offering of Class A shares.

Liquidnet lists Goldman Sachs and Credit Suisse as joint book-runners on the transaction. Other underwriters include JPMorgan, Lehman Brothers, Sandler O'Neill and Liquidnet Inc.

Liquidnet operates an electronic marketplace for block trading between large institutional investors. In 2005 the firm sold an aggregate $250 million minority stake in the business to private equity firms Summit Partners and Technology Crossover Ventures.

Liquidnet CEO Seth Merrin shares his views on the future of trading technology in this exclusive video interview with Finextra recorded in New York just two weeks ago.

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