Marex Group plc Ordinary Shares - MRX STOCK NEWS

Marex Group plc (Nasdaq: MRX) has announced the pricing of a U.S.$600 million Senior Notes offering with a 6.404% interest rate, due 2029. The Notes will be issued at 100% of principal value and will be senior unsecured obligations. The offering is expected to close around November 4, 2024. The company plans to use the proceeds for working capital, incremental growth funding, and general corporate purposes. The offering received strong investor interest, reflecting market confidence in Marex's prudent capital profile and business model.

Marex Group plc (Nasdaq: MRX) has announced the pricing of its public offering at $24.00 per share. The offering consists of 8,472,333 ordinary shares being sold by existing shareholders, with an additional 30-day option for underwriters to purchase up to 1,270,849 shares. The company itself is not selling any shares and will not receive any proceeds from the offering. The closing is expected on October 25, 2024. The offering is led by joint book-running managers Barclays, Goldman Sachs, Jefferies, and Keefe, Bruyette & Woods, with additional bookrunners and co-managers participating.

Marex Group plc (NASDAQ: MRX) has announced that it will release its fiscal 2024 third quarter results on Thursday, November 7, 2024, before the market opens. The company will make the earnings release and supplementary materials available through the "Investors" section of its website at https://ir.marex.com/.

Following the release, Marex will host a conference call at 9am ET on the same day to discuss the results. Analysts and investors who wish to participate in the live conference call can register using the provided link: https://register.vevent.com/register/BI35bc4ad5c3ed48f8b2e48ab5dbfeb65e.

Marex Group plc (Nasdaq: MRX) has announced the launch of a public offering of its ordinary shares. The offering involves 7,000,000 ordinary shares being sold by certain selling shareholders. Additionally, these shareholders have granted the underwriters a 30-day option to purchase up to 1,050,000 additional shares. Marex itself is not selling any shares and will not receive any proceeds from the sale.

The joint lead book-running managers for the offering are Barclays, Goldman Sachs & Co. , Jefferies, and Keefe, Bruyette & Woods. The offering will be made through a prospectus, which can be obtained from the underwriters. A registration statement has been filed with the SEC but is not yet effective, meaning the securities cannot be sold until it becomes effective.

Marex Group plc (NASDAQ: MRX) has agreed terms to acquire Hamilton Court Group, a UK-based FX specialist. This acquisition aligns with Marex's strategy to expand its client base and diversify its earnings. Hamilton Court Group offers a range of FX products, from complex options to standard forwards, spots, and swaps, primarily serving mid-sized UK and European corporates. With approximately 170 employees across London, Milan, Madrid, and Toronto, Hamilton Court Group's acquisition is expected to complement Marex's existing FX operations.

The deal, subject to contract and regulatory approval, aims to enhance Marex's capabilities and client offerings. Marex CEO Ian Lowitt emphasized the strategic importance of bringing new clients onto their platform and diversifying their business. Tony Keterman, CEO of Hamilton Court Group, highlighted the benefits of joining Marex, including access to a larger balance sheet and global footprint to support their expansion plans.

Marex Group plc has agreed to acquire Aarna Capital , an Abu Dhabi-based company providing clearing, execution, and risk management solutions. This acquisition aligns with Marex's strategy to expand operations in the Middle East, grow its clearing business, and diversify its client base. Key points:

- Aarna Capital brings access to around 180 local clients
- Expected to be accretive to earnings and contribute ~5% of Marex Group's profit after tax from FY 2025
- Anticipated synergies include savings from internalising clearing fees and higher net interest income
- Transaction expected to close in late 2024, subject to regulatory approval
- Represents 3-4 times expected profit after tax

The acquisition complements Marex's existing Middle East operations and is seen as an important growth opportunity in the region.

Marex Group Plc (NASDAQ: MRX) has completed the acquisition of Dropet, a Spanish biofuels company, expanding its global environmental products business. This strategic move aligns with Marex's goal to diversify and increase earnings resilience. Dropet offers execution services for physical and paper biofuels products across Europe, Latin America, the Middle East, and Africa, with over 18 years of experience in the industry.

The acquisition provides Marex with additional capabilities in physical biofuels products and an experienced team. It supports Marex's strategy to increase the scale, diversification, and global footprint of its environmental products offering. Marex aims to become a leading provider of environmental commodities and support clients in transitioning to a low-carbon economy.

Dropet will continue to operate as a division of Marex, benefiting from the company's scale and global reach while maintaining its dedicated team and client relationships.

Key Carbon and Marex Group have announced a partnership where Marex will take a minority stake in Key Carbon and provide financing for carbon offset projects. The funding will primarily support the production and distribution of low-emission, affordable cookstoves in Africa through Key Carbon's joint venture with BURN Manufacturing, Global Cookstoves.

Key Carbon has already provided US$45 million in funding to Global Cookstoves, expanding projects across eight African countries. This partnership will allow Marex to access a wider carbon client base and carbon credit streams, supporting its growth in the environmental business sector.

With Marex's funding, Key Carbon will have financed over 1.5 million biomass-fuelled cookstoves, impacting an estimated 7.5 million people. These cookstoves and other Key Carbon projects are expected to avoid or remove more than 46 million tonnes of CO2 or CO2 equivalent.

Marex Group plc, a diversified global financial services platform, has announced its participation in the upcoming Barclays Global Financial Services Conference. The company's Group CEO, Ian Lowitt, will be featured in a fireside chat on Tuesday, September 10th at 7:30 a.m. ET.

This event presents an opportunity for investors and analysts to gain insights into Marex's strategies and market position. The fireside chat will be accessible via webcast, allowing a wider audience to tune in and stay informed about the company's perspectives on the financial services industry.

Interested parties can access the webcast through the provided link, offering a chance to hear directly from the company's leadership in a dynamic conference setting.