BUZZ-Commodities broker Marex slips on secondary offering launch

Reuters
15 Apr
BUZZ-Commodities broker Marex slips on secondary offering launch

** U.S.-listed shares of Marex Group MRX.O fall 3.8% to $37 in post-market trading on share offering launch

** UK-based commodities broker says certain selling shareholders to offload 8.5 mln shares

** Private equity firm JRJ Group, which owns ~14.4 mln shares , or ~20% stake, looks to sell ~3.6 mln of shares being offered, per the SEC filing

** G oldman Sachs, Barclays and Jefferies are lead bookrunners

** MRX shares on Mon closed up 2.8% at $38.47

** Marex went public last Apr after co and existing investors sold nearly 15.4 mln shares in IPO priced at $19

** Earlier on Mon, co told Reuters it bought UK cobalt trader Darton Commodities, while declining to provide more details

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10