Markit Prices IPO Of 53.47 Mln Shares At $24/Shr, Midpoint Of Expected Range

(RTTNews) - Markit, a provider of financial information services, announced the upsizing and pricing of its initial public offering of 53.47 million common shares at $24.00 per share, at the mid-point of its expected price range of $23-$25 per share.

The company noted that this constitutes an upsize of the IPO of 7.76 million shares or 17%. The company expects to close the offering on or about June 24, 2014.

The London, United Kingdom-based company shares will be listed on the NASDAQ Global Select Market under the symbol "MRKT."

The company specified that all of the common shares are being sold by certain selling shareholders.

Markit, which was founded in 2003, will not receive any proceeds from the offering.

The underwriters have a 30-day option to purchase up to an additional 8.02 million common shares from certain selling shareholders to cover over-allotments, if any.

BofA Merrill Lynch, Barclays, Citigroup, Credit Suisse, Deutsche Bank Securities, Goldman, Sachs & Co., HSBC, J.P. Morgan, Morgan Stanley, UBS Investment Bank, BNP Paribas, Jefferies, RBC Capital Markets, RBS and TD Securities are acting as joint book-running managers for the IPO.