13 January, AtoZForex.com, Amsterdam — Yesterday, the Board of CMC Markets held a meeting to discuss the potential timetable for an eventual initial public offering (IPO) on the London Stock Exchange. A fruitful meeting, considering that today the online trading broker already made an official announcement, disclosing CMC Markets IPO in early February 2016.
In more detail, CMC Markets is going to apply for an admission of its ordinary shares to the premium-listing segment of FCA’s Official List. Aside, it will be trading on the main market of the London Stock Exchange (LSE). Even though, CMC Markets has provided no floatation details yet, which is expected to become available in the upcoming weeks, other details about the Client Share Offer were provided.
Clients are at the heart of everything
Back in 2006, CMC Markets' first attempt for public listing got interfered by market volatility, yet this time the admission seems to be secure with the official announcement made. In the response to announcement of CMC Markets IPO in early February 2016, the firm’s founder Peter Cruddas has stated the following:
“Bringing CMC to the public markets will enable us to continue to grow our global brand, build our client base, attract and retain employees and enhance our ability to enable retail traders around the world to trade. Our clients are at the heart of everything we do at CMC and I am delighted that they will have the opportunity to become shareholders in the Group as we embark upon the next stage of our journey."
Three tiers client share offer
The Client Share Offer compromises that clients may acquire from £500 to £20,000 shares, while the actual figure depends on their average monthly trading costs of the past 12 months, or per month since the account opening which will be rounded up to the nearest whole month.
Furthermore, the Client Share Offer is divided in three tiers, distinguishing the CMC Markets clients that have paid above £500 per share in commissions to the brokerage will become eligible to acquire up to £20,000 worth of shares. The second tier, consist of clients with an average trading costs between £100 to £499, who will become eligible for shares up to £5,000. Lastly, clients who paid between £10 and £99 as average trading costs will be eligible to buy between £500 and £1000 worth of shares.
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