BUZZ-Commodities broker Marex dips as $365 mln secondary offering prices
Shares of Marex Group fell 2.6% to $37.11 premarket following a secondary offering of approximately 10.3 million shares priced at $35.50, totaling around $365 million. This offering represents a 6.8% discount to the previous day's closing price. The sellers include JRJ Group, BXR Group, and Trilantic Capital Partners, reducing their stakes to 14.1%, 9.9%, and 9.2%, respectively. Marex's shares have risen 22% year-to-date, giving it a market cap of approximately $2.8 billion.
Shares of London-based Marex Group (MRX.O) down 2.6% premarket at $37.11 after secondary offering prices
MRX early Thurs ~10.3 mln shares at $35.50 for total deal size of ~$365 mln
Offering price represents 6.8% discount to stock’s last sale on Weds
Private equity firm JRJ Group, BXR Group and Trilantic Capital Partners are the sellers, taking their respective stakes to 14.1%, 9.9% and 9.2%, per the
After the bell Mon, MRX an 8.5 mln share offering. Early that day, co it bought UK-based cobalt trader Darton Commodities
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oldman Sachs, Barclays and Jefferies acting as lead bookrunners for the offering
Through Weds, MRX shares up 22% YTD giving co ~$2.8 bln market cap
Marex went public last Apr after ~15.4 mln share priced at $19 (Lance Tupper is a Reuters market analyst. The views expressed are his own)
