Marex plans a $2.8B valuation in U.S. listing post-abandoned UK IPO. They filled out papers with the U.S. Securities and Exchange Commission (SEC).

Marex

On Friday, forex broker Marex announced they were going public on the New York stock market. They filled out papers with the U.S. Securities and Exchange Commission (SEC).

This London-based forex broker is looking at being worth between $2.2 billion and $2.8 billion, a big jump from when it tried to join the London Stock Exchange in 2016 but didn't succeed.

This FCA-regulated broker has almost 1800 workers and has been owned by the private money group JRJ for more than ten years. They work together with Trilantic Europe and BXR Group on this business.

This leading global broker wants to take advantage of the possible success they could get from listing in U.S. markets. Marex is one of eight brokers allowed to do business on the special London Metal Exchange floor.

The planned IPO is a good check to see if US investors want something new. This year, it has been less exciting with lower values and more trouble in the market stopping people from going public.

Choosing New York instead of London is bad news for the latter. This makes it harder to bring in and keep listings.  This is because the world-leading commodity broker makes more money there and their stocks are often worth higher amounts in America's market.

Since 2010, when JRJ bought Marex, it has grown a lot by buying other companies. A big one was the purchase of competitor ED&F Man Capital Markets last year. This purchase strengthened its operations in the US, making it equal to its usually powerful European counterpart.