Markit, a UK-based financial information services company, has filed for its first initial public offering with US Securities and Exchange Commission, intending to raise over $750m.
The company has appointed Bofa Merrill Lynch, Barclays, Citigroup and Credit Suisse as underwriters for the IPO, reported Reuters citing Markit’s preliminary prospectus to US regulators.
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Markit is keen to raise funds from Bank of America, Deutsche Bank, Goldman Sachs Group and private equity firm General Atlantic, which uses the company’s financial data and trade processing services for the credit market.
The company has not disclosed the number of shares it is putting up for sale or exchange.
Earlier in 2013, the company received investment of $500m from Singapore state investor Temasek Holdings, in a deal valuing Markit at about $5bn.
For the year ended 31 December 2013, Markit’s revenues rose 10% to $947.9m, alongside 12% growth to $139.4m in profit attributable to equity holders.
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