Plus500 IPO successful – company raises $25M, shareholders sell $50M
Plus500 IPO successful explained by professional Forex trading experts the “ForexSQ” FX trading team.
Plus500 IPO successful
Forex broker Plus500 has completed a successful IPO roadshow, and increased the planned size of its offering by 50%, from $50 million to $75 million, at a company valuation of $200 million. The company’s shares will begin trading this coming Wednesday, July 24 on the London Stock Exchange’s AIM market, under the ticker symbol PLUS.
It is important to note that just $25 million of the $75 million raised will be going to the company. The remaining $50 million will be shared by the company’s existing shareholders (see our previous post for a list of Plus500 shareholders), each of whom will be selling part of their interest in the company.
Plus500 is now the second successful IPO to be priced over the past month by a Forex broker — as we exclusively reported, Hong Kong FX broker KVB Kunlun went public on the Hong Kong HKEx exchange at the beginning of July, raising $16 million at a valuation of $117 million. KVB shares haven’t done that well since pricing, trading down 13% from the original placing price of HK$0.452 per share, to sit currently at HK$0.395.
Now that the Plus500 deal is done, the key question we’ve been asked is — Who is next? We do know of a number of Forex brokers, mainly in Europe, which are actively involved at various stages of IPO preparation and we expect news of the next deal to hit quickly, likely by the end of the summer. Stay tuned to LeapRate…
Plus500 IPO successful Conclusion
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