Markit To List on NASDAQ Under Ticker MRKT And To Raise $1.14B

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Markit To List on NASDAQ Under Ticker MRKT And To Raise $1.14B

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Markit To List on NASDAQ Under Ticker MRKT And To Raise $1.14B

by TheStreet 1:19 mins

Markit To List on NASDAQ Under Ticker MRKT And To Raise $1.14B

by TheStreet 1:19 mins

Global financial data and service provider Markit is poised to raise over one billion dollars in its upcoming US IPO. The London based firm will be listed on Nasdaq under the ticker MRKT. The IPO is expected be priced between $23 and $25 per share. If it were to price at the top of that range, the company would be valued at $4.4 billion at listing. According to a public filing, 45.7 million common shares will be issued, and the IPO would raise as much as 1.14 billion USD. Markit is one of the key data providers for accounting firms, asset managers, insurance agencies and various government branches. It's one of the main competitors of Bloomberg and Reuters. Even though it's not based in the US, almost half of its 2013 revenues came from customers in America.

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