* Files for IPO of up to $750 mln
* Lists Barclays, Citigroup, Credit Suisse, Bofa Merrill
Lynch as underwriters
May 5 Financial information services company
Markit Ltd filed with U.S. regulators to raise up to $750
million in an initial public offering of common stock.
Markit, which competes with Bloomberg and Thomson Reuters
Corp, counts Bank of America Corp, Deutsche
Bank AG, Goldman Sachs Group Inc and private
equity firm General Atlantic among major stockholders.
These banks also use Markit's financial data and trade
processing services primarily for the credit market.
The London-based company received a $500 million investment
from Singapore state investor Temasek Holdings Pte Ltd
in 2013, which valued Markit at about $5 billion.
Markit, founded by Canadian Lance Uggla in 2001, reported a
10 percent rise in revenue to $947.9 million for the year ended
Dec.31. Profit attributable to equity holders rose 12 percent to
$139.4 million, during the period.
The company provides pricing and reference data, indices,
valuation services. It has more than 3,000 institutional
customers globally, including banks, hedge funds, asset managers
and other financial institutions.
Reuters had previously reported Markit was looking to raise
more than $1 billion from its U.S. listing.
Bofa Merrill Lynch, Barclays, Citigroup and Credit Suisse
are among underwriters to the IPO, Markit told the U.S.
Securities and Exchange Commission in a preliminary prospectus
on Monday. (r.reuters.com/cut98v)
The company did not reveal how many shares it planned to
sell or the exchange on which it intends to list.
The amount of money a company says it plans to raise in its
first IPO filings is used to calculate registration fees. The
final size of the IPO could be different.
(Reporting By Neha Dimri in Bangalore; Editing by Joyjeet Das)