(Bloomberg) -- Marex Group Plc and a group of the London-based firm’s shareholders are seeking to raise as much as $323 million in a US initial public offering.

The financial services platform and the selling shareholders plan to market a total of 15.4 million shares for $18 to $21 each, according to a filing Monday with the US Securities and Exchange Commission. ION Investment Corp. has indicated an interest in purchasing as much as $50 million worth of shares at the IPO price, the filing shows.

At the top of that range, Marex Group would have a market value of nearly $1.5 billion, according to data compiled by Bloomberg.

Marex Group, best known for its commodities business, is one of the largest dealers on the London Metal Exchange. The company said in December it had filed confidentially to go public in New York, after pulling plans for a £115 million ($145 million) London IPO in 2021 due to insufficient demand.

The move to New York is another blow for the British market, which has lost several big listings to US exchanges, most notably semiconductor designer Arm Holdings Plc’s $5.23 billion offering in September.

Read More: Futures Broker Marex Is Said to Prepare for New York Listing

The selling shareholders include Amphitryon Ltd., a firm affiliated with BXR Group and JRJ Group which is offering 8.3 million shares in the IPO, and Ocean Ring Jersey Co., an affiliate of Trilantic Capital Partners which is offering 3.2 million shares. After the offering, Amphitryon will hold 45.9% of the shares, while Ocean Ring will have 17.7% of the shares, assuming the underwriters do not exercise their over-allotment option.

Marex Group had an after-tax profit of $141 million on revenue of $1.24 billion last year, compared with $98 million on revenue of $711 million in 2022, according to its filings.

The offering is being led by Barclays Plc, Goldman Sachs Group Inc., Jefferies Financial Group Inc. and Keefe, Bruyette & Woods. The company plans to trade on the Nasdaq under the symbol MRX.

--With assistance from Michael Hytha.

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