Clearing firm Apex Fintech confidentially files for US IPO

(Reuters) - Clearing firm Apex Fintech said on Tuesday it has confidentially filed for a U.S. initial public offering, as the company revives its ambition to go public.

The Dallas, Texas-based firm had earlier planned on going public in 2021 via a merger with blank-check firm Northern Star Investment Corp II but the deal, valued at $4.7-billion, fell through.

Apex did not disclose the number of shares it plans to sell or the proposed price range for its new IPO filing.

The Peak6 Investments-owned firm counts stock brokerage eToro, fintech firm SoFi Technologies and retail brokerage Webull Financial among its clients.

The move comes at a time when investor sentiment is slowly recovering after a prolonged dry dealmaking spell, amid market volatility and high interest rates.

Private equity firm General Atlantic, too, reportedly confidentially filed for a U.S. IPO on Monday, while Apollo-owned Aspen Insurance said last week it is considering a public offering in 2024.

Founded in 2012, Apex offers digital clearing, custody, execution and routing solutions to financial institutions. It has more than $115 billion assets under custody, its website showed.

(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Pooja Desai)