New IPO Platform Jointly Funded by Major Investment Banks
(23 June 2020 – United States) Capital Markets Gateway (CMG) has received a significant capital injection from leading investment banks to develop a platform form for initial public offerings (IPOs).
Barclays, Citigroup, Goldman Sachs, JPMorgan and Morgan Stanley have reportedly provided the technology platform provider that manages equity capital market transactions with an aggregate total of US$25 million. The investment will enable CMG to build a platform that connects underwriters, buyside investors and sells to IPO transactions. Currently CMG manages 100 buyside firms, 15 investment banks and US$12 trillion in assets under management.
“Remote working has become the new norm for many financial institutions and investors. Platform based technology has now been key to provide investment banking and capital market solutions to a wider audience of investors” said East & Partners Europe Market Analyst, Pierre Sokoya.
“The current process for raising financing is very manual, labour intensive and rather risky, therefore, CMG will be the first connected capital market platform in the US capital market” stated CMG Co-Founder, Greg Ingram.