LMAX Group Explores Sale or Public Listing Amid Crypto Market Weakness

Institutional crypto trading platform LMAX Group is exploring strategic options, including a sale or public listing that could value the business at up to $5 billion.

The company is working with Morgan Stanley (MS) and investment bank KBW, part of Stifel (SF), to evaluate these options, which also include SPAC mergers and IPOs in the U.S. or Europe.

A Nasdaq listing is currently the preferred route, according to one of the people familiar with the matter.