Quantcast
Home » News
Home » News

Markit climbs after expanded IPO brings in $1.28B

Published June 19, 2014 11:08 am

Investments • Company is the world's largest provider of bond information.
This is an archived article that was published on sltrib.com in 2014, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

New York • Shares of Markit jumped after the financial information company's initial public offering raised $1.28 billion.

Markit increased its offering to 53.5 million shares from 45.7 million shares, and the IPO was priced at $24 a share. All of the shares are being sold by company stockholders, so Markit won't get any of the proceeds from the IPO.

The stock rose $2.64, or 11 percent, to $26.64 in late morning trading Thursday on the Nasdaq stock market.



Underwriters of the IPO can buy another 8 million shares to cover over allotments.

Markit Ltd. is the world's largest provider of bond information and derivatives trade processing. The company says it has more than 3,000 customers including banks, hedge funds, asset managers, accounting firms, regulators, corporations, and central banks.

Markit is incorporated in Bermuda and has its headquarters in London.

 

 

 

USER COMMENTS
Reader comments on sltrib.com are the opinions of the writer, not The Salt Lake Tribune. We will delete comments containing obscenities, personal attacks and inappropriate or offensive remarks. Flagrant or repeat violators will be banned. If you see an objectionable comment, please alert us by clicking the arrow on the upper right side of the comment and selecting "Flag comment as inappropriate". If you've recently registered with Disqus or aren't seeing your comments immediately, you may need to verify your email address. To do so, visit disqus.com/account.
See more about comments here.
comments powered by Disqus