April 25 (Reuters) - Shares of British commodities broker Marex Group rose 2.6% in their market debut on the Nasdaq on Thursday, notching a valuation of $1.38 billion.
The shaky debut of the London-based company comes in contrast to recent strong listings on U.S. stock exchanges, underscoring uneven investor appetite as interest rates remain elevated due to hotter-than-expected inflation data.
The stock opened for trading at $19.5 each, above its initial public offering price of $19.
The company along with some of its existing shareholders raised $292.3 million in its IPO, selling nearly 15.4 million shares at $19 each, within its marketed range of $18 and $21.
Barclays, Goldman Sachs, Jefferies and Keefe, Bruyette & Woods served as the underwriters for the offering. (Reporting by Sri Hari N S in Bengaluru and Arasu Kannagi Basil in Bengaluru; Editing by Shinjini Ganguli and Shailesh Kuber)
