Marex Considers to Go Public on LSE

Fazzaco learned that Marex, a UK-based broker, market maker and clearer in global financial and commodities markets, has been considering an initial public offering and applying for admission of the Shares to the premium listing segment of the Official List of the FCA and to trading on the main market of the London Stock Exchange.

The broker did not disclose any pricing details, but it will push for a free float of at least 25 percent of its total shares. Company insiders revealed that the broker is targeting to end the listing by the end of June. Upon listing, it can be valued at 500 million pounds (around $703 million).

In the year ended 31 December 2020, Marex’s net revenue increased by 17.7% to $414.7 million, and adjusted operating profit before tax up by 15.2% to $61.5 million. 

In addition, the company has onboarded Goldman Sachs and JPMorgan as joint global coordinators on the deal.

“The attractiveness and resilience of our business model is demonstrated by our latest set of results which showcase continued strong performance despite the obvious macro headwinds. I am excited about the next stage of our development and the growth opportunities ahead. We look forward to generating continued value for all our stakeholders,” Marex CEO, Ian Lowitt said.

As Fazzaco reported earlier, Marex has simplified its name from Marex Spectron to Marex​. The broker also rolled out a new website Marex.com in early April in connection with the change of name.