Marex Spectron confirms plans to list in London next month By Investing.com

By Samuel Indyk

Investing.com – Commodities broker Marex Spectron has confirmed plans to list on the London Stock Exchange via an initial public offering.

The company plans to apply for trading to take place on the London Stock Exchange’s main market for listed securities.

The final offer price will be determined following a book-building process and admission is expected to occur in mid-June.

The broker said the offer will target institutional investors and intends to have a free float of at least 25% of issued share capital. The company expects his will make it eligible for inclusion in the FTSE UK indices.

Metals markets

The announcement of the plans to list could be a good test off the current surge in raw materials prices, according to AJ Bell Investment Director Russ Mould.

“If anyone should know a good time to buy – or sell – it is surely a broker who is an expert in their field,” Mould said.

“Marex’s statement makes it clear that it does not rely on rising commodity prices to do well and that long-term organic growth opportunities, such as carbon credits and renewable energy, could be supplemented by acquisitions in what remains a fragmented market.”

However, Mould also cautions that investors should be wary, given the moves seen in cryptocurrencies since the Coinbase (NASDAQ:COIN) listing.

“Investors – and thus would-be buyers of the stock – could be forgiven for asking themselves whether the sellers may know anything they do not.

“After all, cryptocurrency exchange Coinbase appears to have called the top in Bitcoin, at least in the short term,” Mould added.