PRESS RELEASE
Marex Group plc, a diversified global financial services platform, has recently disclosed the pricing of its initial public offering at $19.00 per share.
The company initially announced the launch of its IPO around mid-April, where price expectations were estimated between $18-$21 per share.
The offering comprises a total of 15,384,615 ordinary shares, with 3,846,153 shares offered by Marex and 11,538,462 shares offered by certain selling shareholders. Marex will not receive any proceeds from the sale of shares by the Selling Shareholders.
Trading of the ordinary shares on the Nasdaq Global Select Market under the ticker symbol “MRX” is anticipated to commence on April 25, 2024, with the offering expected to close on April 29, 2024, subject to customary closing conditions.
As part of the offering, the Selling Shareholders have granted the underwriters a 30-day option to purchase up to an additional 2,307,692 ordinary shares to cover over-allotments.
The joint lead book-running managers and representatives of the underwriters for the proposed offering include Barclays, Goldman Sachs & Co. LLC, Jefferies, and Keefe, Bruyette & Woods, a Stifel Company.
Acting as bookrunners are Citigroup, UBS Investment Bank, Piper Sandler, and HSBC, while Drexel Hamilton and Loop Capital Markets are serving as co-managers for the proposed offering.
