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General Atlantic-backed Markit valued at $4.3bn through New York IPO

20 Jun 2014

pie chart graph dataPrivate equity-backed financial information provider Markit has valued itself at about $4.3bn by pricing its IPO at $24 per share.

The company, which is backed by US growth equity firm General Atlantic, raised about $1.28bn through the listing on the Nasdaq exchange.

General Atlantic, invested $250m for a 7.5 per cent stake in Markit in 2010 in a deal which valued the company at close to $3bn.

Singapore sovereign wealth fund Temasek invested $500m in Markit last year, which saw the business valued at closer to $5bn.

The company, which provides financial information services to customers including banks, hedge funds, asset managers, central banks, regulators, auditors, fund administrators and insurance companies, reported revenues of $947.9m for 2013.

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