Deals
Tradeweb Raises $1.1 Billion in Year's No. 2 IPO in U.S.
- Bank-backed trading platform prices shares above target at $27
- Tradeweb set to begin trading Thursday on Nasdaq under TW
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Tradeweb Markets Inc. raised $1.1 billion in the second-largest U.S. initial public offering this year, after again increasing the number of shares it was selling and then pricing them above the marketed range.
The bond and derivative trading platform sold 40 million shares for $27 apiece Wednesday, according to a statement. Tradeweb had originally planned to sell 27.3 million shares for $24 to $26 each and had boosted the size of the offering on Tuesday to 36.25 million shares to buy back more of the stock held by its bank investors.