GAIN Capital Holdings Announces Pricing of Its IPO
It looks like some people misread the offering reports and thought Gain was offering only 400k shares, whereas it is issuing 400k shares and existing shareholders are selling 8.5million shares so in total almost 9 million shares are to be sold in this offering.
The price however was reduced and Gain will raise $81 million putting the company value at only $279 million (if I remember correctly it had 31 million shares in total).
NEW YORK, December 15, 2010 – GAIN Capital Holdings Inc., a global provider of online foreign exchange (Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term or FX) trading and related services, including contracts- for -difference (CFDs) trading, announced today its initial public offering of 9,000,000 shares of its common stock at a price to the public of $9.00 per share. The shares will begin trading today, December 15, 2010, on the New York Stock Exchange under the ticker symbol "GCAP."
GAIN Capital Holdings Inc. is offering 407,692 shares of common stock and its selling stockholders are offering 8,592,308 shares of common stock. In addition, certain selling stockholders have granted the underwriters an option to purchase up to 1,350,000 additional shares of common stock to cover over-allotments, if any. GAIN Capital Holdings Inc. will not receive any proceeds from the sale of shares by the selling stockholders.
Morgan Stanley and Deutsche Bank Securities are acting as joint book-running managers for the offering. JMP Securities LLC, Raymond James and Sandler O'Neill + Partners, L.P. are acting as co-managers.
The offering of these securities will be made only by means of a prospectus, which may be obtained from Morgan Stanley, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, telephone: (866) 718-1649 or by emailing prospectus@morganstanley.com; and Deutsche Bank Securities, 100 Plaza One, Jersey City, New Jersey 07311, telephone: (800) 503-4611, or by emailing prospectusrequest@list.db.com. The prospectus also may be obtained on the Securities and Exchange Commission's Web site at https://www.sec.gov.
A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation pr sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About GAIN Capital
GAIN Capital Holdings, Inc. is a global provider of online foreign exchange (forex or FX) trading and related services, including contracts-for-difference (CFDs) trading . Customers and trading partners in more than 140 countries have utilized the company’s award-winning Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term.
GAIN Capital provides execution, clearing, custody and technology products and services to an institutional client base including asset managers, broker/dealers and other financial services firms. GAIN also operates FOREX.com, one of the largest and best-known brands in the retail forex industry.
With offices in New York City; Bedminster, New Jersey; London; Sydney; Hong Kong; Tokyo and Seoul, GAIN Capital and its affiliates are regulated by the Commodity Futures Trading Commission (CFTC) in the United States, the Financial Services Authority (FSA) in the United Kingdom, the Financial Services Agency (FSA) in Japan, the Securities and Futures Commission (SFC) in Hong Kong, and the Australian Securities and Investments Commission (ASIC) in Australia.
For company information, visit www.gaincapital.com or www.forex.com.
It looks like some people misread the offering reports and thought Gain was offering only 400k shares, whereas it is issuing 400k shares and existing shareholders are selling 8.5million shares so in total almost 9 million shares are to be sold in this offering.
The price however was reduced and Gain will raise $81 million putting the company value at only $279 million (if I remember correctly it had 31 million shares in total).
NEW YORK, December 15, 2010 – GAIN Capital Holdings Inc., a global provider of online foreign exchange (Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term or FX) trading and related services, including contracts- for -difference (CFDs) trading, announced today its initial public offering of 9,000,000 shares of its common stock at a price to the public of $9.00 per share. The shares will begin trading today, December 15, 2010, on the New York Stock Exchange under the ticker symbol "GCAP."
GAIN Capital Holdings Inc. is offering 407,692 shares of common stock and its selling stockholders are offering 8,592,308 shares of common stock. In addition, certain selling stockholders have granted the underwriters an option to purchase up to 1,350,000 additional shares of common stock to cover over-allotments, if any. GAIN Capital Holdings Inc. will not receive any proceeds from the sale of shares by the selling stockholders.
Morgan Stanley and Deutsche Bank Securities are acting as joint book-running managers for the offering. JMP Securities LLC, Raymond James and Sandler O'Neill + Partners, L.P. are acting as co-managers.
The offering of these securities will be made only by means of a prospectus, which may be obtained from Morgan Stanley, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, telephone: (866) 718-1649 or by emailing prospectus@morganstanley.com; and Deutsche Bank Securities, 100 Plaza One, Jersey City, New Jersey 07311, telephone: (800) 503-4611, or by emailing prospectusrequest@list.db.com. The prospectus also may be obtained on the Securities and Exchange Commission's Web site at https://www.sec.gov.
A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation pr sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About GAIN Capital
GAIN Capital Holdings, Inc. is a global provider of online foreign exchange (forex or FX) trading and related services, including contracts-for-difference (CFDs) trading . Customers and trading partners in more than 140 countries have utilized the company’s award-winning Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term.
GAIN Capital provides execution, clearing, custody and technology products and services to an institutional client base including asset managers, broker/dealers and other financial services firms. GAIN also operates FOREX.com, one of the largest and best-known brands in the retail forex industry.
With offices in New York City; Bedminster, New Jersey; London; Sydney; Hong Kong; Tokyo and Seoul, GAIN Capital and its affiliates are regulated by the Commodity Futures Trading Commission (CFTC) in the United States, the Financial Services Authority (FSA) in the United Kingdom, the Financial Services Agency (FSA) in Japan, the Securities and Futures Commission (SFC) in Hong Kong, and the Australian Securities and Investments Commission (ASIC) in Australia.
For company information, visit www.gaincapital.com or www.forex.com.