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)
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