JRJ Group-backed Marex, a British commodities broker, announced plans on Friday to list its shares in NYSE, the latest blow to London’s bid to attract companies to its London Stock Exchange. The firm said it has confidentially filed a draft registration statement with the U.S. markets regulator with a view to launching an IPO. The news comes two years after the company’s failed attempt to list in London. London has seen a string of high-profile defections this year by domestic or locally listed companies to New York in search of deeper liquidity and higher valuations, including building materials company CRH and sports betting group Flutter Entertainment Plc. Marex is one of the world’s largest privately owned commodities brokers. Last year, Marex agreed to buy ED&F Man Capital Markets to boost its metals business and expand in fixed income and equities. At the time the deal was worth $220m. #PEInsights #privateequity #ipo #financialservices
