The interest being shown in becoming publicly listed companies by retail FX firms is continuing, this time with FxPro having revealed its intentions to conduct an Initial Public Offering (IPO) on the London Stock Exchange.
A report today by Bloomberg stated that the company’s CEO, Charalambos Psimolophitis explained that the ethos behind revisiting the possibility of an IPO is to enable the opening of an office in Dubai to tap wealthy Asian, Middle Eastern and Persian Gulf state clients.
The company had originally planned an IPO in 2010, however this did not proceed. With regard to the company’s plans to become publicly listed in 2016, Mr Psimolophitis stated that “We’ve had very preliminary discussions with a number of investment banks, but no decision has been taken.”
He continued “We have had ongoing discussions, and that did not start today. It has been going on for the last two years and it is something that might happen.”
Mr. Psimolophitis concluded “Being a listed company would give much more tools and firepower to acquire smaller brokers.”
The original article in Bloomberg can be accessed here.