European CFD broker, Plus500 successfully raises $75 million in placing of shares prior to trading on the London Stock Exchange's AIM Market, the companies shares were priced at 115p.
In the midst of the positive performance shown by FX brokers this year, Plus500, a European CFD broker regulated under MiFID announced its plans to list the firm on London's AIM Market earlier this month (1st July). The company is expected to commence trading from the 24th of July and according to a press release issued by the firm, the firm says its market value on admission is expected to be around US$200 million. This comes on the back of the firm raising $75 million via the placing of US$25 million new and US$50 million. In addition, the broker announced that ordinary shares were placed at 115p, and the placement saw strong demand from institutional investors.
Gal Haber, Chief Executive Officer of Plus500, commented in the official briefing:"We are delighted with the strong level of support from institutional investors which is testament to our future prospects. The Placing and subsequent admission to AIM will support our business as we seek to deliver on our growth plans.
We believe that we have built an attractive and scalable business, underpinned by the Group's proprietary technology and self-developed Trading Platform. We are excited at the opportunity to grow our business further and we look forward to enhancing Shareholder value."
The IPO club
Plus500 will join listed UK CFD brokers such as IG and London Capital Group. One of the UK's top three spread betting and CFD brokers, CMC Markets, has been due to float in London since 2006, however due to general economic conditions the IPO hasn't taken place.
Bankrupt spread betting firm, WorldSpreads, was listed on AIM in 2007, at the time of floatation the firm was valued at £19 million raising £5.77 million through a placing at 47p a share.
Forex Magnates contacted Liberum Capital Limited, Plus500's adviser for a comment about the IPO, however the firm has yet to respond.
International FX brokers FXCM and Gain Capital are listed in New York.
In the midst of the positive performance shown by FX brokers this year, Plus500, a European CFD broker regulated under MiFID announced its plans to list the firm on London's AIM Market earlier this month (1st July). The company is expected to commence trading from the 24th of July and according to a press release issued by the firm, the firm says its market value on admission is expected to be around US$200 million. This comes on the back of the firm raising $75 million via the placing of US$25 million new and US$50 million. In addition, the broker announced that ordinary shares were placed at 115p, and the placement saw strong demand from institutional investors.
Gal Haber, Chief Executive Officer of Plus500, commented in the official briefing:"We are delighted with the strong level of support from institutional investors which is testament to our future prospects. The Placing and subsequent admission to AIM will support our business as we seek to deliver on our growth plans.
We believe that we have built an attractive and scalable business, underpinned by the Group's proprietary technology and self-developed Trading Platform. We are excited at the opportunity to grow our business further and we look forward to enhancing Shareholder value."
The IPO club
Plus500 will join listed UK CFD brokers such as IG and London Capital Group. One of the UK's top three spread betting and CFD brokers, CMC Markets, has been due to float in London since 2006, however due to general economic conditions the IPO hasn't taken place.
Bankrupt spread betting firm, WorldSpreads, was listed on AIM in 2007, at the time of floatation the firm was valued at £19 million raising £5.77 million through a placing at 47p a share.
Forex Magnates contacted Liberum Capital Limited, Plus500's adviser for a comment about the IPO, however the firm has yet to respond.
International FX brokers FXCM and Gain Capital are listed in New York.
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
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Looking to expand your network in #Africa?
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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