LONDON & NEW YORK--(BUSINESS WIRE)--Markit, a leading global diversified provider of financial information services, today announced the upsizing and pricing of its initial public offering (IPO) of 53,472,353 common shares at a price of $24.00 per share. This constitutes an upsize of the IPO of 7,764,388 shares or 17%. The shares will be listed on the NASDAQ Global Select Market under the symbol “MRKT.”
All of the common shares are being sold by certain selling shareholders, and Markit will not receive any proceeds from the offering. The underwriters have a 30-day option to purchase up to an additional 8,020,853 common shares from certain selling shareholders to cover over-allotments, if any. The IPO is expected to close on or about June 24th 2014, subject to customary closing conditions.
BofA Merrill Lynch, Barclays, Citigroup, Credit Suisse, Deutsche Bank Securities, Goldman, Sachs & Co., HSBC, J.P. Morgan, Morgan Stanley, UBS Investment Bank, BNP Paribas, Jefferies, RBC Capital Markets, RBS and TD Securities are acting as joint book-running managers for the IPO.
The registration statement on Form F-1 relating to the IPO of common shares of Markit has been declared effective by the Securities and Exchange Commission (SEC). This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The offering is being made only by means of the prospectus forming part of the effective registration statement. A copy of the final prospectus related to the offering may be obtained, when available, by contacting:
— BofA Merrill Lynch, 222 Broadway, New York, New York 10038, Attention: Prospectus Department, or by e-mailing: email@example.com
— Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: +1 (888) 603-5847 or by e-mailing: Barclaysprospectus@broadridge.com
— Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: +1 (800) 831-9146
— Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York, 10010, telephone: +1 (800) 221-1037, or by emailing: firstname.lastname@example.org
— Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005, telephone: +1 (800) 503-4611, or by emailing: prospectus.CPDG@db.com
— Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: +1 (866) 471-2526, facsimile: +1 (212) 902-9316, or by emailing: email@example.com
— HSBC Securities (USA) Inc., Attention: Prospectus Department, 452 Fifth Avenue, New York, NY 10018, telephone: +1 (877) 429-7459, or by emailing: firstname.lastname@example.org
— J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, telephone: +1 (866) 803-9204
— Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department, telephone: +1 (866) 718-1649, or by emailing: email@example.com
— UBS Investment Bank, 299 Park Avenue, New York, NY 10171, Attention: Prospectus Department, telephone: +1 (877) 827-7275
Notes to Editors
Markit is a leading global diversified provider of financial information services. We provide products that enhance transparency, reduce risk and improve operational efficiency. Our customers include banks, hedge funds, asset managers, central banks, regulators, auditors, fund administrators and insurance companies. Founded in 2003, we employ over 3,000 people in 10 countries.
This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995 — that is, statements related to future, not past, events. Forward-looking statements are based on current expectations and include any statement that does not directly relate to a current or historical fact. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as “anticipate,” “believe,” “intend,” “expect,” “plan,” “will” or other similar words. These forward-looking statements involve certain risks and uncertainties that ultimately may not prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. For further discussion of risks and uncertainties, individuals should refer to Markit’s SEC filings. Markit undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.