Tradeweb Prices IPO04.04.2019
Tradeweb Markets raised $1.08 billion in an initial public offering, pricing 40 million shares at $27.
Shares of the operator of electronic marketplaces for rates, credit, equities and money markets are expected to begin trading on Nasdaq today under the ticker TW.
— Nasdaq (@Nasdaq) April 4, 2019
Tradeweb is going public with considerably less fanfare than Lyft, the ride-sharing service that hit the public markets last week. But while Lyft is a household name in the B2C space, Tradeweb is an important platform for institutional traders in financial markets.
Tradeweb is a survivor in a space that has continually evolved and transformed, and trading platforms come and go. The firm was formed in 1997 and launched the first multi-dealer online marketplace for U.S. Treasuries in 1998; last year, its average trading volume topped $500 billion for the first time.
— Tradeweb (@Tradeweb) April 4, 2019
Proceeds from the IPO will go to purchase equity interests from certain existing bank stockholders. Refinitiv will continue to own a controlling interest in Tradeweb following the offering.
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