(Reuters) - Tradeweb Markets Inc, an electronic trading platform for bonds and derivative instruments, said on Monday it is planning to raise up to $709 million in an initial public offering.
The filing comes a few days after jeans maker Levi Strauss (NYSE:LEVI) & Co's blockbuster debut, while ride-hailing service providers Lyft Inc and Uber are set to pursue their much-anticipated listings. Investors anticipate this year as one of the most active years ever for share offers by technology companies.
The New York-based company, which has 222.2 million shares outstanding, said it expects to offer 27.3 million shares at a price of $24-$26 per share, the company said in a regulatory filing on Monday. [https://
The higher end of the indicative price range gives the company, which intends to list under the symbol "TW" on the Nasdaq, a market value of $5.78 billion.
Tradeweb Markets is 54 percent owned by Refinitiv, while the rest being held by a consortium of banks. Thomson Reuters, the parent company of Reuters News, owns 45 percent of Refinitiv, with private equity firm Blackstone (NYSE:BX) owning the remainder.
J.P. Morgan, Citigroup (NYSE:C), Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS) are leading a 12-member underwriting team for the IPO.