Tradeweb Plans Stock Sale, Reports Preliminary 3Q Adjusted EPS 27 Cents

By Josh Beckerman

Tradeweb Markets Inc. (TW) said preliminary third-quarter adjusted earnings were 27 cents a share and said it plans to sell 14.8 million shares.

The electronic trading company's preliminary results were included in its registration statement for the stock offering. The company is in the process of finalizing results.

Preliminary figures included net income of $29.6 million, or 20 cents a share, on gross revenue of $201 million.

Tradeweb, which held its initial public offering in April, plans to use proceeds from the stock sale to buy equity interests from some existing owners.

Refinitiv will continue to own a controlling stake. In 2018, a consortium led by Blackstone Group Inc. (BX) bought 55% of Thomson Reuters Corp.'s (TRI) Financial & Risk business and named it Refinitiv.

London Stock Exchange Group PLC (LSE.LN) said Aug. 1 that it agreed to buy Refinitiv for about $27 billion including debt.

Write to Josh Beckerman at [e-mail]

(END) Dow Jones Newswires

October 15, 2019 19:56 ET (23:56 GMT)

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