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Markit’s float to raise $1.2bn

Oliver Smith
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MARKIT, the UK financial data provider, is set to raise $1.18bn (£694m) in New York today, following the pricing of its shares at $24, the mid-point, last night.

Most of the funds raised will go to the group of investment banks, including Bank of America Merrill Lynch, Deutsche Bank, Goldman Sachs and JP Morgan, which are set to sell down their stakes.

Markit’s float is being led by 14 banks, including Barclays and Credit Suisse, which are all stakeholders.