Tradeweb Markets, an operator of electronic marketplaces for rates, credit, equities and money markets, has debuted its IPO after pricing its 40 million shares at $27 per share. The stock began trading April 4, 2019 on the NASDAQ under the ticker symbol “TW.” J.P. Morgan, Citigroup, Goldman Sachs and Morgan Stanley are the underwriters. Tradeweb’s pre-IPO backers included Blackstone.
NEW YORK – April 3, 2019 – Tradeweb Markets Inc., a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today announced the pricing of its initial public offering of 40,000,000 shares of its Class A common stock at a price to the public of $27.00 per share. The shares are expected to begin trading on April 4, 2019 on the NASDAQ Global Select Market under the ticker symbol “TW.” In addition, the underwriters have a 30-day option to buy up to an additional 6,000,000 shares of Class A common stock from Tradeweb Markets at the IPO price, less underwriting discounts and commissions. The closing of the offering is expected to occur on April 8, 2019, subject to satisfaction of customary closing conditions.
The net proceeds from the offering will be used to purchase equity interests from certain existing bank stockholders. Refinitiv will continue to own a controlling interest in Tradeweb following the offering.
J.P. Morgan, Citigroup, Goldman Sachs & Co. LLC and Morgan Stanley are acting as the joint book-running managers for the offering.
A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission on April 3, 2019. The offering of these securities is being made only by means of a prospectus. When available, a copy of the final prospectus relating to the offering may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by email at email@example.com or toll-free at (866) 803-9204; Citigroup Global Markets Inc., Attention: Prospectus Department, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by telephone at (800) 831-9146; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by email at firstname.lastname@example.org or by telephone at (866) 471-2526; or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, New York 10014.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Tradeweb Markets
Tradeweb Markets Inc. is a leading, global operator of electronic marketplaces for rates, credit, equities and money markets. Founded in 1996, Tradeweb provides access to markets, data and analytics, electronic trading, straight-through-processing and reporting for more than 40 products to clients in the institutional, wholesale and retail markets. Advanced technologies developed by Tradeweb enhance price discovery, order execution and trade workflows while allowing for greater scale and helping to reduce risks in client trading operations. Tradeweb serves approximately 2,500 clients in more than 60 countries. In an average trading day, Tradeweb facilitates more than $540 billion in notional value.