Last week marked one of the most active in terms of corporate reshuffling. It all started with a couple of leaked negotiations between one of the companies where Teddy Sagi is a majority shareholder, gaming company Playtech and a couple of well-known foreign exchange brokers.
The firms which the gaming company has potentially been looking at were AvaTrade and IronFX. With no confirmation about the deal, sources close to the matter have subsequently denied that the former is close to concluding a deal.
At the same time, with an increasing number of rumors that a large number of clients outside of China are also experiencing difficulties with withdrawals from IronFX, the company did not comment on any negotiations.
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Meanwhile, FXPrimus has been well on its way for an IPO filing in Australia, however, the local regulator ASIC has delayed the effort, according to Australian media. That said, sources with knowledge of the matter have shared with Finance Magnates that the IPO was voluntarily withdrawn by the company after it had already been fully underwritten.
The latest information which has become available to our reporters suggested a market capitalization of AU$ 158 million ($126 million).
Meanwhile, another publicly listed broker experiencing difficulties since January, FXCM, has been punished on the stock market. Shares of the company lost almost a third of their value after a report by an activist investor suggested that Leucadia’s estimate on share prices of FXCM is at a touch over $0.80.
Investors reacted with a rapid sell-off awaiting results from the latest round of talks with potential buyers of FXCM’s Hong Kong business.