London-based financial-services company Markit has filed for an estimated $750 million U.S. IPO.
Markit provides financial data, competing with Thomson Reuters and Bloomberg. It has more than 3,000 institutional customers, including banks, asset managers and hedge funds.
The company’s 2013 revenue was $948 million, up 10% from the year before. Net income was $139 million last year.
Markit’s top shareholders include Bank of America (NYSE:BAC), Deutsche Bank (NYSE:DB), Goldman Sachs (NYSE:GS) and JPMorgan (NYSE:JPM). Private equity firm General Atlantic and Singapore’s sovereign wealth fund Temasek have also invested in the company.
Markit has less than $1 billion in annual revenue, which means that it qualified as an “emerging growth company” in the JOBS Act. Due to this status, Markit could begin its roadshow as soon as 21 days following Monday’s SEC filing.
Bank of America, Barclays (NYSE:BSC), Citigroup (NYSE:C) and Credit Suisse are managing the offering. Markit has yet to pick an exchange.
Markit was founded in 2003 by Lance Uggla, who is the current CEO.