Retail FX and CFD broker ThinkMarkets is reportedly in the latter planning stages for an initial public offering (IPO).
The company is working with investment bankers including Citi, which have indicated to ThinkMarkets that the likely valuation range for the company would be around $300 million. ThinkMarkets is doing about $75 million in annual revenues.
The plan would be to raise about $100 million, most of which would likely go to the company but some of which might be in the form of existing shareholders cashing in part of their positions.
While no final decision has been made, the IPO appears to be centered around the Australia market with a listing on the ASX – the Australian Securities Exchange, Australia’s primary securities exchange. The target is to complete the IPO by the end of 2020.
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Only those FG Acquisition Corp (TSE:FGAA.U) shareholders who hold the stock as of May 26 are eligible to vote.
featured, FG Acquisition Corp., forex broker IPOs, SPAC listing, ThinkMarkets, ThinkMarkets IPO
8 Comments
ThinkMarkets posted total losses of USD $20.7 million over the past two years, financing its cash outflow from increased borrowing.
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The deal will give ThinkMarkets a pre-merger valuation of USD $160 million.
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ThinkMarkets UK brought in Revenue of £3.90 million in 2019, up from £3.26 million the previous year.
ThinkMarkets IPO, USGFX bankrupt
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If you followed FNG this past week, then you heard first about the UK-Australia Retail FX broker planning an IPO, and USGFX’s bankruptcy saga.
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FNG has learned that 10-year-old Retail FX and CFD broker ThinkMarkets is in the latter planning stages for an initial public offering (IPO).
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