Marex (NASDAQ:MRX) stock is on the move Monday after the financial services company’s initial public offering (IPO) for its shares last week.
The IPO saw Marex sell 15,384,615 shares of MRX stock at a price of $19 per share. Of that, 3,846,153 shares were sold by the company and the other 11,538,462 were sold by selling shareholders. The offering launched on Thursday and is expected to close today.
To go along with that, underwriters have a 30-day option to purchase another 2,307,692 shares of MRX stock. Barclays, Goldman Sachs & Co. LLC, Jefferies and Keefe, Bruyette & Woods are acting as the joint lead book-running managers for the offering.
MRX Stock Movement Today
MRX stock was volatile this morning, with the shares seeing as much as a 60% fall during pre-market trading. However, the stock didn’t keep those losses and recovered before the opening bell.
This has MRX stock up slightly as of Monday morning. That comes with just over 1,000 shares of the stock changing hands as of this writing.
Marex is a financial services company based in the U.K. It was founded in 2005 and currently employs roughly 2,100 people. Its focus is on customers in the energy, commodities and financial markets.
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We have all of the hottest stock market news ready to go on Monday! That includes what’s happening with shares of Bakkt (NYSE:BKKT) stock, Koninklijke Philips (NYSE:PHG) stock and Inno (NASDAQ:INHD) stock today. All of that news is good to go at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
