Financial data firm Markit files for up to $750M IPO


Financial information services company Markit filed with U.S. regulators to raise up to $750 million in an initial public offering of common stock.

Markit, which competes with Bloomberg and Thomson Reuters, counts Bank of America, Deutsche Bank, Goldman Sachs and private equity firm General Atlantic among major stockholders.

The London-based company, founded by Canadian Lance Uggla in 2001, received a $500 million investment from Singapore state investor Temasek Holdingsin 2013.

Markit webpage
Source: Markit

The investment valued Markit at about $5 billion.

Markit is seeking to raise more than $1 billion in a U.S. listing, Reuters reported last year, citing sources.

Bofa Merrill Lynch, Barclays, Citigroup and Credit Suisse are among underwriters to the IPO, Markit told the U.S. Securities and Exchange Commission in a preliminary prospectus on Monday.

Markit IPO latest step in banks’ data war

The company did not reveal how many shares it planned to sell or the exchange on which it intends to list.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

—By Reuters