This day in history – November 25, 2010: GAIN Capital estimates $535 million post-IPO
Six years ago today, GAIN Capital valued itself at approximately $535 million in the advent of its public listing on the New York Stock Exchange at a time when the giants of the retail FX world were rallying to go public
At the end of the last decade, many of the large retail FX stalwarts made their way toward public listings on prominent stock exchanges.
One such company was North American electronic trading giant GAIN Capital, which placed its first filing to thsi effect with the U.S. Securities and Exchange Commission in August 2009, and became public on December 15, 2010 when it floated 35% of its shares on the New York Stock Exchange.
The listing of GAIN Capital on the New York Stock Exchange coincided with rival North American firm FXCM, which became a publicly listed entity in December 2010, and began trading on the NYSE, becoming the first forex broker in the US to IPO.
On this day six years ago, GAIN Capital made a milestone step in the advent of its public listing, stating its intention to sell 11 million shares for a total value of approximately $190 million, resulting in a residual total of 31 million shares after the IPO.
Considering this, it was made clear that GAIN Capital had at the time valued itself at approximately $535 subject to the listing being completed on those terms, making it around half the value of FXCM.
GAIN Capital stock has since been a desirable commodity for key staff, with Samantha Roady, the firm’s Chief Marketing Officer, having made several transactions during 2015, netting $380,000 after selling a series of shares, following having been awarded $1.2 million worth of company shares in January 2015.
Today, GAIN Capital remains one of the evergreen firms in the United States, and has a market capitalization of $322.91 million