Commodities broker Marex dips as $365 mln secondary offering prices

Marex

17/04/2025 12:13

**  Shares of London-based Marex Group MRX.O down 2.6% premarket at $37.11 after secondary offering prices

    ** MRX early Thurs announces ~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 SEC prospectus filing

    ** After the bell Mon, MRX launched an 8.5 mln share offering. Early that day, co said it bought UK-based cobalt trader Darton Commodities

    **
    G
    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 IPO priced at $19

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))