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British commodities platform Marex aims for $1.49 bln valuation in US IPO
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British commodities platform Marex aims for $1.49 bln valuation in US IPO
Apr 15, 2024 7:40 AM

April 15 (Reuters) - British commodities platform Marex

Group said on Monday it is seeking a valuation of up to $1.49

billion in its initial public offering in the United States

joining the list of foreign companies turning to U.S. capital

markets.

The company said in a filing it is offering to sell about

15.4 million shares at a price range of $18 to $21 apiece to

raise about $323 million.

The plan for listing in the U.S. 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 more liquidity and higher valuations.

Marex, backed by private equity firm JRJ, in December last

year confidentially filed a draft registration statement with

the U.S. market regulator to launch an IPO.

The London-based company has applied to list its ordinary

shares on the Nasdaq Global Select Market under the symbol

"MRX".

Barclays, Goldman Sachs and Jefferies are among the

underwriters for the offering.

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