Markit, has announced the closing of its secondary public offering of 27,501,271 common shares at $25.75 per share, including 1,754,667 shares sold upon the exercise in full by the….
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underwriters of their option to purchase additional common shares from the selling shareholders. The company itself did not sell any shares and did not receive any proceeds from the offering.
BofA Merrill Lynch, Barclays, Citigroup, Credit Suisse, Deutsche Bank Securities, Goldman, Sachs & Co., HSBC, J.P. Morgan, Morgan Stanley, RBC Capital Markets, UBS Investment Bank, BNP PARIBAS, Jefferies, RBS and TD Securities acted as joint book-running managers for the offering.
As part of the offering, Markit purchased from the underwriters 14,048,820 common shares at the price paid to the selling shareholders by the underwriters, which was approximately $24.91 per common share. Markit funded the approximately $350 million share repurchase through a combination of cash and a drawdown of its revolving credit facility. The share repurchase was part of the company’s previously announced $500 million share repurchase programme, which authorizes the company to purchase up to an additional $150 million of common shares over the next two years.
The registration statement, including a preliminary prospectus, relating to these securities has been declared effective by the U.S. Securities and Exchange Commission (the “SEC”). This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities, in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.