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Commodities broker Marex dips as $365 mln secondary offering prices

ReutersApr 17, 2025 11:13 AM

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

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