Wall Street Broker Clear Street Seeks $1.05 Billion in IPO

Clear Street Group Inc., a Wall Street broker built on cloud computing technology, is looking to raise as much as $1.05 billion in an initial public offering.

The company is offering 23.8 million shares for between $40 and $44 apiece, according to a filing on Wednesday with the US Securities and Exchange Commission. At the top of the range, Clear Street would have a market value of nearly $12 billion based on the shares listed in the filing.