April 4, 2019 / 3:59 PM / 3 months ago

BUZZ-Tradeweb Markets IPO catches a bid

** Tradeweb Markets, an electronic trading platform for bonds and derivative instruments, pops 29% after pricing its upsized IPO

** TW opens at $34.26 vs $27 IPO price. Touches early high of $34.75, roughly a third of deal shares trade in first 10 minutes

** Upsized offering of 40 mln shares prices $1 above targeted range of $24-$26; co valued at $6 bln at IPO price

** Deal size increased from revised 36.3 mln shares and 27.3 mln shares upon launch. SEC filing here

** Tradeweb is 54% owned by Refinitiv, while the rest being held by consortium of banks. Thomson Reuters, parent co of Reuters News, owns 45% of Refinitiv, with PE firm Blackstone owning the remainder

** JP Morgan, Citigroup, Goldman and Morgan Stanley leading 12-firm underwriting group

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