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Marex set to take advantage of commodities boom and list on London stock market
Marex is set to take advantage of the commodities boom and list on the London stock market.
The London Metal Exchange broker aims to float in June with a possible valuation of £500m.
Pricing was not disclosed but at least 25 per cent of the company will be floated.
Listing: The London Metal Exchange broker aims to float in June with a possible valuation of £500m
Marex specialises in steel and base metals trading and the decision comes as commodity prices have hit record highs this year amid hopes of a global economic recovery.
Marex was founded out of the ruins of New York-based Refco, which went bankrupt in 2005 after boss Phillip Bennett was found to have hidden £305m in bad debts.