Francesc Riverola,
FxPro Group Plans to List on London’s AIM in October
By Businessweek
Sept. 6 (Bloomberg) — FxPro Group Ltd., the currency trading company that sponsors Aston Villa and Fulham soccer clubs, plans to sell shares on London’s Alternative Investment Market in October.
FxPro aims to exploit the opportunities presented by the continued growth of the foreign exchange market globally,” Chief Executive Officer Panagiotis Xydas said in a statement distributed by the Regulatory News Service today.
FxPro eyes Aim listing
By Financial Times
FxPro, the Cyprus-based foreign exchange broker aimed at retail investors, is expected to announce its intention to float on Aim, in a move that could value the company at about £200m.
The management, led by founders Panagiotis Xydas and Denis Sukhotin, plan to sell about 30 per cent of FxPro, banking some £60m. The group is the main shirt sponsor of football clubs Aston Villa and Fulham and also backs Virgin’s Formula One team.
Regulated by the Cyprus Securities and Exchange Commission, FxPro – whose motto is “Trade forex like a pro” – allows private investors to trade foreign exchange and derivatives such as contracts for difference (CFDs).
Interesting move. I wonder if this will start a wave of IPOs.
wow, I knew that FxPro - one of the top leading FX brokers, but listing - FORZA FXPRO!!
hope that it will brings to yours customers more advantages!
congrats!!!!
Not sure at this time…, my gut feeling is that we will see more firms going public as credit tightening and market consolidations come along… firms will need more cash to keep growing at a fast growth rates when organic growth will not longer keep its current steam… but I can be totally wrong
Hi Francesco,
[FYI] Euroweek has published the following info today
“FxPro, the online foreign exchange trading firm, this week appointed Macquarie as sole-bookrunner of a £90m IPO on London’s Alternative Investment Market, the Australian bank’s first new-listing lead manager mandate since it bought the Fox Pitt Kelton ECM franchise last year”
Link:
http://www.euroweek.com/Article/2664599/Channel/2022/Macquarie-leads-FxPro-IPO-sees-IG-Group-as-comparable.html
Interesting to see how this gels with the latest round of layoffs at FxPro. Information points to around a third of the workforce being given their marching orders (including Mr. Xydas) and the closure of their offices in Athens.
Maybe the last piece of pie they tried to bite off proved a bit too much. Too much spent on advertising and not enough on what that actually do - provide brokerage for their clients.
Firing a third of their employees a month before Christmas doesn’t point to a particularly caring company.