Private equity-backed Markit files for IPO

The company hopes to raise up to $750m via the flotation, which will occur on either Nasdaq or the New York Stock Exchange. 

Singapore's sovereign wealth fund was understood to have taken a 10% stake in the firm in 2013 for $500m. In 2010, General Atlantic injected $250m into the company for a 7.5% stake in the business. The company is majority owned by JP Morgan, Goldman Sachs and Morgan Stanley. 

In 2012, Markit acquired data provider Data Explorers from Bowmark Capital. At the time of the bolt-on, Markit was valued at $3bn. 

The firm generated revenues of $947.9m for the year ending 31 December 2013. Based in London, Markit provides independent data, valuations and trade processing across all asset classes in order to enhance transparency, reduce risk and improve operation efficiency.

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