Tradeweb gets $1.16B proceeds from IPO

Apr. 08, 2019 4:58 PM ETTradeweb Markets Inc. (TW)By: Liz Kiesche, SA News Editor

Tradeweb Markets (NASDAQ:TW) closes its initial public offering of 46M shares of class A common stock, including the full exercise of the over-allotment option for 6M shares, at a price of $27 per share.
The $1.16B in proceeds is net of underwriting discounts and commissions, but before estimated offering expenses.
Proceeds were used to buy equity interests from certain existing bank stockholders.
Refinitiv continues to own a controlling stake in Tradeweb after the offering.
Its shares rose 33% on April 4, their first day of trading.
Previously: Tradeweb set to begin trading in $6B IPO (April 4)