Marex Group Announces IPO with 15.4 Million Ordinary Shares

After confidentially filing a draft registration statement​ with the U.S. Securities and Exchange Commission (SEC) for its proposed initial public offering (IPO) of ordinary shares late last year, Marex Group plc. (Marex), the diversified global financial services platform, announced on Monday (April 15) the launch of its IPO.

The total number of ordinary shares offered in this offering is 15,384,615 shares, of which 25% will be provided by Marex and the other 75% will be provided by certain selling shareholders. The IPO shares will trade on the Nasdaq Global Select Market under the ticker symbol "MRX", and the offering price is expected to be between $18 and $21 per share, resulting in an estimated total valuation of approximately $323 million.

According to Marex, Barclays, Goldman Sachs & Co. LLC, Jefferies, and Keefe, Bruyette & Woods (a Stifel Company), will act as joint lead book-running managers and representatives of the underwriters for the proposed IPO. Citigroup, UBS Investment Bank, Piper Sandler, and HSBC will act as bookrunners for the offering, with Drexel Hamilton and Loop Capital Markets acting as co-managers.

Marex also stated that the IPO will be made only by means of a prospectus and is subject to SEC approval.