AvaTrade, Dublin-based Forex brokerage business, is planning to participate in the high-profile listings in London.
According to Sky News’ report on Thursday, the Irish company has been valued between £500 million and £700 million for the listing at London stock market.
JP Morgan and Jefferies will lead the preparations for IPO and it seems to happen in the upcoming months. An anonymous resource told that there is still discussion about the timing and valuation. Additionally, the final decision will be made due to the changes in market conditions and how much investors demand to get a place.
Established in 2006 by Emanuel Kronitz and Negev Nosatzki, AvaTrade will not probably jump into the bigger sea and prefer The AIM market for the listing, which is a sub-branch of the LSE and known for its more flexible regulatory system compared to London Stock Exchange.
The Rise Of AvaTrade Will Continue
AvaTrade will not be the first UK-listed broker and would join the others like CMC Markets, IG Group and Plus500. The most impressive thing about the IPO is the increase in the price of the company. The maximum value of £700 million is worth six times more than the value of AvaTrade stated by Playtech, once managed by Teddy Sagi, in 2015. Playtech offered a $105 million acquisition at that time but the deal was canceled by Ireland’s central bank.
This tremendous rise puts an emphasis on what the company has achieved last year. The main reason for this change is definitely correlated to the pandemic and evolving life conditions. While coronavirus was increasing the level of volatility in the market, the Forex companies have ended up with more things to offer to their customers. In December, the firm stated that its client base reached 300,000 traders across 150 countries and the number tends to increase.