FXPro to announce plans for Aim float

first_img Share KCS-content whatsapp RETAIL broker FXPro will today signal its intention to float on the AIM junior stock market, in a move that could make existing shareholders up to £60m. An announcement to the stock market is expected at 7am today, when the Cyprus-based firm will outline its plan to place 30 per cent of its existing shares with institutional investors through the stock exchange. The foreign exchange and futures broker, which launched in 2006, is set to be valued at around £200m. Founder Denis Sukhotin and managing director Panagiotis Xydas are among the shareholders who will net a total of £60m if the float goes to plan. The firm, which sponsors Premier League football clubs Aston Villa and Fulham, hopes to join the market before October. The firm specialises in giving individual investors access to foreign exchange trading, and also offers a platform to trade metals, indices, futures and contracts for difference, which provide exposure to share prices without owning the underlying stock. The company boasts customers in 150 different countries, and currently employs more than 170 people worldwide. It hired Old Mutual’s former chief executive Jim Sutfliffe as a non-executive director at the end of June. Forex trading has grown in popularity since the financial crisis, with more than $4 trillion changing hands every day, according to a recent survey by the Bank of International Settlements. Industry-wide turnover has grown 20 per cent since 2007, with the UK making up more than a third of global trading volumes. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proofcenter_img Show Comments ▼ Tags: NULL Sunday 5 September 2010 10:00 pm whatsapp FXPro to announce plans for Aim float last_img

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