initial public offerings (IPOs) trading on American exchanges

Thursday, June 19, 2014

Markit (MRKT) began trading on the NASDAQ on 19 June 2014

  • The number of U.S. IPOs in 2014 hit 132, up 63% from a year ago.
  • The year's largest U.S. IPO came from auto finance giant Ally Financial (NYSE:ALLY), which raised $2.4 billion in April.
The profitable U.K.-based financial data services firm late Wednesday raised $1.28 billion, making it the fifth-largest U.S. IPO of 2014. Markit sold an upsized 53.5 million shares at 24, the midpoint of its range. The stock rose 11% to 26.70 in its first day.
Markit (NASDAQ:MRKT), known to the broader public for its economic activity gauges for Europe, China and the U.S., has more than 3,000 institutional customers, including banks, hedge funds and asset managers, accounting firms, regulators, corporations, exchanges and central banks. About half of its customers are U.S. based.

  • Markit (MRKT) is the largest provider of bond information and derivatives trade processing.
  • It was founded in 2003, booked $980 million in sales over the last 12 months. 
  • Rivals include Bloomberg, FactSet (NYSE:FDS) and Thomson Reuters (NYSE:TRI).
  • Based in London, United Kingdom
  • BofA Merrill Lynch, Barclays, Citi and Credit Suisse are the joint bookrunners on the deal.

Markit CEO Lance Uggla, left, celebrates the financial information company's U.S. trading debut Thursday with Nasdaq CEO Robert Greifeld.

Lance Uggla, Founder and Chief Executive Officer of MarkIt

Markit Ltd. is a global diversified provider of financial information services. The Company provides pricing and reference data, indices, valuation and trading services, trade processing, enterprise software and managed services. The Company’s end-users include front and back office professionals, such as traders, portfolio managers, risk managers, research professionals and other capital markets participants, as well as operations, compliance and enterprise data managers. The Company has over 3,000 institutional customers globally, including banks, hedge funds, and asset managers, accounting firms, regulators, corporations, exchanges and central banks. The Company operates in three segments: Information, Processing and Solutions.


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Key stats and ratios

Q1 (Mar '14)2013
Net profit margin15.34%15.51%
Operating margin23.05%24.27%
EBITD margin-39.52%
Return on average assets4.93%4.63%
Return on average equity7.66%7.35%

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