Davis Polk advised Markit Ltd. in connection with its SEC-registered secondary offering of 27,501,271 common shares sold by 15 selling shareholders, including 1,754,667 shares sold upon the exercise in full by the underwriters of their option to purchase additional shares from the selling shareholders. 

The offering resulted in gross proceeds to the selling shareholders of approximately $685 million. As part of the offering, Markit purchased 14,048,820 common shares from the underwriters at the price per share paid by the underwriters to the selling shareholders in the offering. The common shares are listed on the NASDAQ Global Select Market under the symbol “MRKT.”  

Based in London, Markit is a leading global diversified provider of financial information services, including pricing and reference data, indices, valuation and trading services, trade processing, enterprise software and managed services. Markit’s offerings enhance transparency, reduce risk and improve operational efficiency in the financial markets, and its more than 3,000 institutional customers include banks, hedge funds, asset managers, central banks, regulators, auditors, fund administrators and insurance companies. 

The Davis Polk corporate team included partner Richard D. Truesdell Jr., counsel Derek Dostal and associates Roshni S. Banker and Darren Jackson. The U.K. law team included partners Simon Witty and Jonathan Cooklin and associates Dan Hirschovits and Dominic Foulkes. The executive compensation team included partner Kyoko Takahashi Lin and associate Victoria Y. Ha. Members of the Davis Polk team are based in the New York and London offices.   

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