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Liquidnet Holdings Inc, which got is start in the dot-com heyday of the late 1990s, has filed to go public.
Essentially, Liquidnet facilitates large equity trades for institutional investors – which are anonymous. In fact, the platform allows access to about 7.5 billion shares per day of liquidity.
No doubt, the company is putting pressure on the traditional exchanges and yes, is growing at a rapid clip. From 2005 to 2007, revenues spiked from $161.8 million to $346.5 million. Net income was a juicy $191.2 million last year. To keep up the growth, Liquidnet wants to expand aggressively into foreign markets, where things are still in the early stages.
The lead underwriters on the IPO include Goldman, Sachs & Co. (NYSE: GS) and Credit Suisse (NYSE: CS). Moreover, you can find the prospectus at the SEC website.
Tom Taulli is the author of various books, including The Complete M&A Handbook
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