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LONDON - iFOREX Financial Trading Holdings Ltd., a prominent fintech firm specializing in online and mobile trading platforms for multi-asset contracts for difference (CFD), has confirmed its intention to proceed with an initial public offering (IPO). The company plans to apply for its ordinary shares to be listed on the Official List of the Financial Conduct Authority (FCA) and to begin trading on the Main Market of the London Stock Exchange (LON:LSEG), with the expected admission slated for late June 2025.
The offering is set to consist exclusively of new ordinary shares. It will target institutional investors via a placement and will also include a Bookbuild Intermediaries Offer, designed to distribute shares to retail investors in the United Kingdom (TADAWUL:4280).
Eyal Carmon, the founder and majority shareholder of iFOREX, will retain his majority ownership post-admission. Carmon has committed to a relationship agreement upon admission and will continue to contribute his expertise through a consultancy agreement with Recap Ltd., a company he wholly owns.
In addition, key stakeholders such as the Founder, Directors, Proposed Directors, and certain senior managers and employees participating in the company’s employee share ownership trust (ESOP) have agreed to a 12-month lock-up period followed by a 12-month orderly market period concerning their shareholdings at the time of admission.
Further details regarding the offering and potential updates to corporate governance will be disclosed in the prospectus, which will be made available if and when published. Shore Capital and Corporate Limited have been appointed as the Sponsor, with Shore Capital Stockbrokers Limited serving as the Sole Bookrunner for the IPO.
This announcement marks a significant step for iFOREX as it transitions from a private to a publicly-traded company, reflecting its growth in the fintech sector. The information for this article is based on a press release statement from iFOREX Financial Trading Holdings Ltd.
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