CMC Markets announces intention to float on LSE

CMC Markets, a spread betting broker and provider of online financial trading, has announced its intention to float on the London Stock Exchange.

It is expected that the planned initial public offering, confirmed by the company today, will value the company at around £1 billion. PeterCruddasCMC

Founded in 1989 by former Tory party treasurer and “Brexit” campaigner Peter Cruddas, CMC Markets became a pioneer of online financial trading.

It offers products across platforms and its Next Generation platform was developed entirely in-house. This is available on Android, iPad and iPhone mobile platforms, as well as the main site and its local language domains.

CMC has offices in 14 countries, and the company’s IPO advisers are Morgan Stanley and Goldman Sachs.

CEO Peter Cruddas said of the announcement: “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.”

He added: “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.”

(Featured image)

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