UK-Based Marex Group Joins US Public Markets

The competition to go public in the US has a new participant as Marex Group, a financial services platform located in the UK, has entered the scene. The platform announced an initial public offering (IPO) of regular stocks with the Securities and Exchange Commission (SEC).

The terms of the offering, such as the number of shares to be offered, the Pricing range, and the timing have not been concluded yet.

Marex Aims To List Its Stocks On The Nasdaq Stock Exchange

The firm wants to register its stocks on the Nasdaq stock exchange with “MRX” As the ticker symbol. Additionally, Stifel Company, Bruyette & Woods, Keefe, Jefferies, Goldman Sachs & Co. LLC, and Barclays have been appointed as the joint lead underwriting team for the proposed offering.

Marex Group decided to apply for an IPO in the US after the firm canceled its plans to go public in the UK in 2021. The first clue that Marex desired to become a US-traded firm came in early December when it confidentially presented an initial registration document to the SEC.

This action had included Marex in the increasing list of companies based in the UK seeking to be listed in the US market. Last year, the IPO market was led by Nasdaq, which draws in the greatest number of offerings across the western region. In London, it plunged 20% during the same interval.

The IPO details appear 14 days after Marex bolstered its board by appointing John W. Pietrowicz, who now serves on the Audit & Compliance Committee and was previously part of the CME Group.

Four months back, the firm revealed that it had acquired the acquisition of Cowen’s prime brokerage and outsourced trading platform. The deal was completed two months after its first announcement.

Marex Wants To Maintain Its High Level Of Service To Clients, Utilizing Its Vast Resources

The Director of Marex, Jack Seibald stated that the customers can anticipate the same excellent service they are used to, with the included benefit of Marex’s vast resources. He added that he is optimistic about the merging and the company will continue to provide exceptional service to the existing customers.

The past week, Seibald and several other Marex spokespersons clarified the benefits the firm received from the purchase of Cowen.

It was reported that Marex fortified its footprint in the Asia-Pacific area by becoming a clearing and trading member of the Singapore Exchange Group (SGX). This action has allowed Marex to offer direct clearing and trading services to SGX customers.