Marex files with SEC for IPO in New York

The decision comes two years after the broker cancelled its plans to list in the UK in 2021, and is yet another blow to London’s lack-lustre listings scene. 

Marex announced today that it has confidentially submitted a draft registration statement on Form F-1 to the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial public offering of its ordinary shares.

“The size and price range for the proposed offering have not yet been determined,” said the firm – although the targeted valuation is believed to be around US$2.2-2.8bn, significantly larger than the projection for its original 2021 IPO plan.

READ MORE: Jack Seibald and Mike Rosen on why they left TD Cowen…and why Marex is their perfect fit.

The initial public offering is expected to commence after the completion of the SEC review process, subject to market and other conditions.

The decision to list in New York is the latest in a string of disappointments for the London market, following news earlier this week that European package holiday provider Tui is thinking about moving its listing from London to Frankfurt in order to lower costs.

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