Marex Group, a British company, has officially announced its initial public offering of shares in the US, which will be traded on the Nasdaq stock exchange. The application for this IPO was filed in December and we will soon be able to invest in its securities under the symbol “MRX”.
About the company
Marex Group PLC is a group of companies engaged in the provision of financial liquidity, market access and services in the energy, commodities and financial markets. It has been operating since 2005 and represents a number of firms such as BIP Asset Management, CSC Comodies and ED&F Man Capital Markets.
Marex Group is a member of the London Metal Exchange and is also a major participant in other leading exchanges such as the Chicago Mercantile Exchange and the Intercontinental Exchange. It is considered one of the largest private commodity brokers in the world.
The company has a broad client base that includes traditional consumers and suppliers of commodities, financial institutions such as banks and asset managers. It has a strong presence in major energy and commodity markets in Europe and the United States and is expanding its capabilities in the Asia Pacific region.
What we know about the IPO of Marex Group
The company is offering a total of 15,384,615 shares, with Marex itself selling only 25% of the shares and the remaining 75% being offered by the company’s existing shareholders. In addition to the shares offered, the selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 2,307,692 shares to cover any over-allotment.
The stock price ranges from $18 to $21 per share, so in total the company could raise over $323 million. There is already a lot of interest in this IPO, for example, ION Investment Corp. has even expressed interest in buying up to USD 50 million worth of shares at the IPO price.
