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Bermuda: US, EU probes threaten Markit IPO

By  |  May 5, 2014

Bermuda-based financial services data provider Markit field an optimistic F-1 filing for its initial public offering Monday, demonstrating how the company can endure market regulation and the financial crisis with its reported earnings. But its IPO, reports say, could be threatened with ongoing investigations by the US Department of Justice as well as the European Commission.

According to reports, Markit, backed by Bank of America, JPMorgan and Goldman Sachs, marked a $750 million placeholders for its IPO. But in its two largest markets, the EU and US, antitrust investigations regarding Markit’s dealings in the credit default swap information industry threaten the performance of the company’s listing.

The company announced Monday it first communicated with the DOJ in 2009 over the case. The EU launched its own probe in the matter in 2011. The company also confirmed Monday the probes remain active.

Full content: The Street

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