March 26 (Reuters) - British commodities broker Marex
Group reported a 75% jump in annual revenue in a filing on
Tuesday, three months after it confidentially filed to list in
the United States.
The London-based company said revenue for the year ended Dec
31, 2023 rose to $1.24 billion from $711 million a year earlier.
Marex's profit after tax for the same period jumped to $141
million, or $1.09 per share, from $98.2 million, or 80 cents a
share, a year earlier.
The broker, backed by private equity firm JRJ, is attempting
another IPO after its failed attempt to list in London in 2021.
It confidentially filed for an IPO in New York in December last
year.
The company's listing is yet another blow to London capital
markets, which have seen a string of high-profile defections
last year by domestic or locally listed companies to New York in
search of deeper liquidity and higher valuations, including
building materials company CRH.
Marex, which operates across Europe and the Americas with a
growing presence in the Middle East and APAC regions, grew
active clients to over 4,000 in 2023 from nearly 1,800 in 2018.
It employs about 2,000 people in more than 35 global offices as
of Dec. 31, 2023.
Barclays, Goldman Sachs, Jefferies and Keefe, Bruyette &
Woods are the underwriters for the offering.