LMAX eyes $5B Nasdaq IPO as sale talks gather pace
Institutional trading platform LMAX Group is working with Morgan Stanley and KBW, Stifels investment banking arm, to review a possible sale or public listing. SummaryLMAX reviews a sale, SPAC merger, or listing that could value it at $5 billion.Morgan Stanley and KBW are advising LMAX, while Nasdaq ranks as its preferred listing venue.Ripple‘s $150 million financing and Omnia exchange launch support LMAX’s push into institutional digital markets. People familiar with the private discussions told CoinDesk that a transaction could value the London-based company at up to $5 billion. The options include a full sale, a special purpose acquisition company merger, and initial public offerings in the U.S. or Europe. A Nasdaq listing currently ranks as the preferred route, according to one of the unnamed sources. However, LMAX has not started a formal public process or agreed to a transaction. The company said it “declines to comment on speculation.” Morgan Stanley also declined to comment, while Stifel had not responded when the report was published. LMAX considers several routes to a $5 billion valuation LMAX operates trading venues and infrastructure for foreign exchange and digital assets. Its clients include banks, brokers, hedge funds and asset managers. The group owns LMAX Exchange, LMAX Global and LMAX Digital.