Temasek Holdings Mulls Markit Group Stake
Singapore’s Temasek Holdings is positioned to purchase a stake worth around US$ 500 million in Markit Group Limited. Temasek’s potential stake would reduce the banks’ stake. Founded in 2001 by Lance Uggla and a group of executives, Markit is a data provider based in the United Kingdom. Among other products and services like trade processing, the private company provides data on prices and valuations of privately-traded credit derivatives.
In 2005, Markit opened an office in Singapore.
In July 2012, they spearheaded a bond pricing service for the Singapore dollar bond market. This was in response to the Monetary Authority of Singapore’s desire to expand and deepen Singapore’s debt capital market.
Markit is contemplating capital raising options like a potential initial public offering. In January 2010, General Atlantic Partners parked US$ 250 million for a 7.5% stake, valuing the company at the time to be US$ 3 billion. The capital has allowed Markit to acquire companies, expand products and reach new markets.
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