Marex Group, a UK commodities broker and trading services firm, raised $292 million by offering 15.4 million shares (75% secondary) at $19, within the range of $18 to $21. A new investor had indicated on $50 million worth of shares in the offering (17% of the deal).
Marex is a diversified global financial services platform that provides critical services to clients across energy, commodities, and financial markets by connecting them to global exchanges and providing a range of execution services. Its business consists of five segments: clearing, agency and execution, market making, hedging and investment solutions, and corporate. Marex believes it is one of the leading service providers in the global commodities market, providing connectivity to 58 exchanges. The company had a base of more than 4,000 clients as of December 31, 2023, and it executed approximately 129 million trades and cleared approximately 856 million contracts in 2023.
Marex Group plans to list on the Nasdaq under the symbol MRX. Barclays, Goldman Sachs, Jefferies, Keefe Bruyette Woods, Citi, UBS Investment Bank, Piper Sandler, and HSBC acted as joint bookrunners on the deal.
