News Column

Markit Upsizes and Prices Initial Public Offering

July 5, 2014



By a News Reporter-Staff News Editor at Investment Weekly News -- Markit, a leading global diversified provider of financial information services, announced the upsizing and pricing of its initial public offering (IPO) of 53,472,353 common shares at a price of $24.00 per share. This constitutes an upsize of the IPO of 7,764,388 shares or 17%. The shares will be listed on the NASDAQ Global Select Market under the symbol "MRKT."

All of the common shares are being sold by certain selling shareholders, and Markit will not receive any proceeds from the offering. The underwriters have a 30-day option to purchase up to an additional 8,020,853 common shares from certain selling shareholders to cover over-allotments, if any. The IPO is expected to close on or about June 24th 2014, subject to customary closing conditions.

BofA Merrill Lynch, Barclays, Citigroup, Credit Suisse, Deutsche Bank Securities, Goldman, Sachs & Co., HSBC, J.P. Morgan, Morgan Stanley, UBS Investment Bank, BNP Paribas, Jefferies, RBC Capital Markets, RBS and TD Securities are acting as joint book-running managers for the IPO.

The registration statement on Form F-1 relating to the IPO of common shares of Markit has been declared effective by the Securities and Exchange Commission (SEC). This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Keywords for this news article include: Markit, Banking and Finance.

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Source: Investment Weekly News


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