LONDON: iFOREX Financial Trading Holdings Ltd., a leading fintech firm specializing in multi-asset contracts for difference (CFDs), announced Monday its intention to proceed with an initial public offering (IPO) on the London Stock Exchange, with shares expected to begin trading in late June 2025.
The company said it will apply for admission of its ordinary shares to the official list of the U.K. Financial Conduct Authority (FCA) and to the main market of the London Stock Exchange. The IPO is expected to consist entirely of new shares, with no secondary sale component.
iFOREX outlined several key aspects of the offering:
– Listing Plans: The shares will be listed under the equity shares (commercial companies) segment of the FCA’s official list and traded on the London Stock Exchange’s main market.
– Investor Allocation: The offer will include a placing for institutional investors and a separate offering via the Bookbuild platform for U.K. retail investors, facilitated by intermediaries (“Bookbuild Intermediaries Offer”).
– Founder Commitment: Eyal Carmon, the company’s founder and majority shareholder, will retain control post-listing. He has agreed to a relationship agreement with iFOREX and will continue advising the business through a consultancy arrangement with Recap Ltd., a firm he owns.
– Lock-Up Agreements: Carmon, along with directors, proposed directors, and certain senior employees holding shares through an employee ownership trust (ESOP), have agreed to a 12-month lock-up period, followed by an additional 12-month orderly market arrangement.
– Prospectus Disclosure: Further details on the IPO, including corporate governance updates, will be included in a prospectus to be published ahead of the listing.
iFOREX has appointed Shore Capital and Corporate Limited as sponsor and Shore Capital Stockbrokers Limited as sole bookrunner for the offering.
The company did not disclose the expected pricing range or the total size of the offering.
iFOREX operates a proprietary online and mobile trading platform offering CFDs across multiple asset classes. The IPO will mark a significant step in its expansion as it seeks to capitalize on growing retail and institutional demand for fintech-driven trading solutions.