FXCM bought 50% of institutional FX market maker Lucid in 2012 for $176 million, paid mainly in FXCM stock.
LeapRate Exclusive…. LeapRate has learned, via a series of filings made with the U.S. Securities and Exchange Commission (SEC), that Lucid Markets principal Matthew Wilhelm has sold about $8.6 million worth of FXCM shares during the month of February (see table below).
As we reported earlier, Wilhelm sold about $19 million of his FXCM stock between August and January, bringing his total cash take over the past six months to more than $27 million. FXCM acquired 50% of Lucid Markets in June 2012 for $176 million, paid mainly in FXCM stock (NYSE:FXCM).
Wilhelm and the other Lucid shareholders have done well by taking back FXCM shares for their company. At the time of the Lucid acquisition, FXCM shares were trading in the $10-11 range. Wilhelm’s share sales have been done mainly in the $16-19 range. Wilhelm still owns about 3.8 million FXCM shares, worth at today’s share price about $62 million.
FXCM share price, January 2012 to present. Source: Google Finance.
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