Betfair Group PLC made an announcement today via the London Stock Exchange's Regulatory News Service revealing their preliminary results for the year to April 30th 2012. They headlined with the opinion that:
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The first of what may eventually turn into a trio of forex initial public offerings finally came to fruition yesterday evening when FXCM announced that:
Its initial public offering of 15,060,000 shares of its Class A common stock has been priced at $14.00 per share. The shares are expected to begin trading tomorrow, December 2, 2010, on the New York Stock Exchange under the ticker symbol “FXCM.” The underwriters have been granted a 30-day option to purchase up to 2,259,000 additional shares of Class A common stock at the public offering price less the underwriting discount from FXCM if the underwriters sell more than 15,060,000 shares in the offering.
Time will tell if the underwriters manage to collect those additional shares at a bargain basement price, but FXCM seem to be well on the way to raising over $200 million in new capital. According to Bloomberg:
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Yesterday I spoke with both Robin Osmond and Martyn Holman, CEO and COO respectively of LMAX, about the launch earlier this week of LMAX Trader and their future plans for both the LMAX multilateral trading facility and the LMAX Trader retail trading platform.
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The Betfair Group IPO was initially mooted back in 2005, but was then put back on the shelf. On September 21st Betfair announced that they intended to list their shares on the London Stock Exchange and last week the prospectus was published at long last, informing any interested readers that:
More on Betfair IPO a Success. Will FXCM Succeed Where GAIN Did Not?
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First there was Betfair. Then came Tradefair. Today there is LMAX Trader, which has just been launched amid a flurry of publicity, it's mission "to transform retail contracts for difference (CFD) and FX trading". In the press release LMAX chief executive Robin Osmond is quoted as saying:
More on LMAX Trader Launched to "Transform Retail FX Trading"
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