New York, United States
MF Global Ltd. has announced that its initial public offering of 97.4 million shares of its common stock has been priced at $30 per share. MF Global's common shares are expected to begin trading tomorrow, July 19, 2007, on the New York Stock Exchange under the ticker symbol "MF."
All of the shares, representing approximately 80% of the outstanding share capital, will be offered by Man Group plc (LSE:EMG), which is separating its brokerage business, formerly Man Financial, through the IPO. Man Group has granted the underwriters an option to purchase up to 9.7 million additional common shares of MF Global in the offering.
Concurrent with the separation and IPO, Man Financial has been renamed MF Global.
Citi, JPMorgan, Lehman Brothers, Merrill Lynch & Co. and UBS Investment Bank are serving as joint book-running managers for the offering. The joint lead managers are Credit Suisse, Deutsche Bank Securities, Goldman, Sachs & Co. and Morgan Stanley. Other co-managers include ABN AMRO Rothschild LLC, Banc Of America Securities LLC, BMO Capital Markets, HSBC, Keefe, Bruyette & Woods, Sandler O'Neill + Partners, L.P., and Wachovia Securities. Lazard is acting as a financial advisor to MF Global in the matter.
Copies of the prospectus may be obtained by contacting any of the joint book-running managers whose contact information is listed below.*
About MF Global
MF Global Ltd., formerly Man Financial, is the leading broker of exchange-listed futures and options in the world. It provides execution and clearing services for exchange-traded and over-the-counter derivative products as well as for non-derivative foreign exchange products and securities in the cash market. Its worldwide client base of more than 130,000 active accounts ranges from financial institutions, industrial groups, hedge funds and other asset managers to professional traders and private/retail clients.
MF Global operates in 12 countries on more than 70 exchanges, providing access to the largest and fastest growing financial markets in the world. It is the leader by volume on many of these markets and on a single day averages six million lots, more than most of the world's largest derivatives exchanges.
Because its business is uniquely diversified across products, trading markets, customers and regions, MF Global is able to adapt quickly to changing market conditions and client needs and maintain its market-leading position.
About Man Group plc
Man Group plc is a leading global provider of alternative investment products and solutions as well as one of the world's largest futures brokers. The Group employs over 4,000 people in 16 countries, with key centres in London, Pfaeffikon (Switzerland), Chicago and New York. Man Group plc is listed on the London Stock Exchange (LSE:EMG) and is a constituent of the FTSE 100 Index.
*Copies of the written prospectus related to the offering may be obtained by contacting any of the following joint book-running managers:
Citigroup Global Markets Inc.
Brooklyn Army Terminal
140 58th Street, 8th Floor
Brooklyn, N.Y. 11220
Phone: (718) 765-6732
J.P. Morgan Securities Inc.
4 Chase Metrotech Center, CS Level
Brooklyn, NY 11245
Attention: Chase Distribution & Support Service Northeast Statement
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Phone: (718) 242-8002
Lehman Brothers Inc.
c/o Broadridge Integrated Distribution Services
1155 Long Island Avenue
Edgewood, NY 11717
e-mail: qiana.smith@broadridge.com
Fax: (631) 254-7268
Merrill Lynch, Pierce, Fenner & Smith Incorporated
4 World Financial Center, 5th floor
New York, NY 10080
Phone: (212) 449-1000
UBS Investment Bank
Attention: Prospectus Department
299 Park Avenue
New York, New York 10171
Phone: (212) 821-3000
Source: Business Wire (Business Wire India)