Plus500 files for an IPO in London
BREAKING NEWS…. Israel-based and Cyprus-domiciled retail forex broker Plus500 has formally announced its intention to pursue an IPO on the London Stock Exchange’s Alternative Investment Market (AIM). The company plans to raise about $50 million in an offering which would value Plus500 at about $225 million (after the money).
Other nuggets of information from Plus500’s press release include:
In 2012, Plus500 had revenues of $56 million, and profit before tax of $23 million.
In the first quarter of 2013, Plus500 had revenues of $19.8 million, and profit before tax of $7.0 million.
Roughly 90% of Plus500’s revenues come from Europe, with the UK alone accounting for 40% of revenues.
At year end (2012) Plus500 had 58,000 active customers.
Plus500 only has about 50 employees.
Liberum Capital Limited is acting as Nominated Adviser and Broker for the IPO
Plus500 is certainly not a shy firm. As we reported back in April, they were the first retail Forex broker to offer leveraged Bitcoin trading. They also received a fairly sizable (£205,000) fine by the UK’s FSA last October, for failing to provide accurate and timely transaction reports to the FSA regarding certain trades in the 2010-11 time period. The fine was actually reduced by 30%, from nearly £300,000, as Plus500 agreed to settle at an early stage of the FSA’s investigation.
Plus500 files for an IPO in London Conclusion
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