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FILE PHOTO – Lee Olesky, co-founder and CEO of Tradeweb Markets LLC., Speaks at the Sandler O Neill + Partners Global Exchange and Brokerage Conference in New York, United States, June 6, 2018. REUTERS / Brendan McDermid
(Reuters) – Tradeweb Markets Inc., an electronic trading platform for bonds and derivatives, announced Monday its intention to raise up to $ 709 million during an initial public offering. ;saving.
The request came a few days after the notorious debut of jeans manufacturer Levi Strauss & Co, while mobile service providers Lyft Inc and Uber are poised to continue their long-awaited efforts. Investors expect this year to be one of the most active years for stock quotes from tech companies.
The New York-based company, which has 222.2 million shares outstanding, has announced plans to offer 27.3 million shares at a price of $ 24 to $ 26 a share, the company said on Monday. regulatory filing. [bit.ly/2JzuFEf]
The highest part of the indicative price range gives the company, which intends to register under the symbol "TW" on the Nasdaq, a market value of $ 5.78 billion.
Tradeweb Markets is 54% owned by Refinitiv, with the remainder owned by a consortium of banks. Thomson Reuters, the parent company of Reuters News, holds a 45% stake in Refinitiv, with private equity firm Blackstone holding the rest.
J.P. Morgan, Citigroup, Goldman Sachs and Morgan Stanley lead a 12-member underwriting team for the initial public offering.
Bharath Manjesh report in Bengaluru; Edited by James Emmanuel
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