(Reuters) - British commodities broker Marex Group reported a 75% jump in annual revenue in a filing on Tuesday, three months after it confidentially filed to list in the United States.
The London-based company said revenue for the year ended Dec 31, 2023 rose to $1.24 billion from $711 million a year earlier.
Marex's profit after tax for the same period jumped to $141 million, or $1.09 per share, from $98.2 million, or 80 cents a share, a year earlier.
The broker, backed by private equity firm JRJ, is attempting another IPO after its failed attempt to list in London in 2021. It confidentially filed for an IPO in New York in December last year.
The company's listing is yet another blow to London capital markets, which have seen a string of high-profile defections last year by domestic or locally listed companies to New York in search of deeper liquidity and higher valuations, including building materials company CRH (LON:CRH).
Marex, which operates across Europe and the Americas with a growing presence in the Middle East and APAC regions, grew active clients to over 4,000 in 2023 from nearly 1,800 in 2018. It employs about 2,000 people in more than 35 global offices as of Dec. 31, 2023.
Barclays (LON:BARC), Goldman Sachs (NYSE:GS), Jefferies and Keefe, Bruyette & Woods are the underwriters for the offering.