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

GAIN Capital IPO

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

Read this next

Institutional FX

FXSpotStream volumes hit 14-month high in November

FXSpotStream’s trading venue, the aggregator service of LiquidityMatch LLC, reported its operational metrics for November 2023, which moved higher on a monthly basis.

Digital Assets

Circle denies ties with Palestinian groups, TRON founder

Stablecoin issuer Circle has denied allegations that it facilitates funding for terrorist organizations.

Retail FX

CySEC hits operator of Titanedge, TradeEU with €90,000 fine

The Cyprus Securities and Exchange Commission (CySEC) announced that it has imposed a fine of €90,000 on Titanedge Securities Ltd due to shortcomings in their regulatory obligations.

Institutional FX

Cboe FX volumes retreats slightly in November 2023

Cboe’s institutional spot FX platform today announced its trading volume for the month ending November 2023, which took a step back after a strong rebound in October.

Institutional FX

Alpha Group seals Cobase majority acquisition

Foreign exchange service provider Alpha Group International plc (AIM: ALPH) has finalized its acquisition of Financial Transaction Services, operating as Cobase.

Digital Assets

TMNG Tokens Successfully Listed on MEXC Crypto Exchange

TMN Global proudly announces the successful listing of its native TMNG token on the MEXC crypto exchange, effective December 1st, 2023. This strategic partnership marks a significant milestone for TMN Global in the crypto space.

Institutional FX

Marex completes acquisition of TD Cowen’s PB business

London-headquartered commodities broker Marex has completed the acquisition of TD Cowen’s prime brokerage and outsourced trading business, which will be integrated into Marex’s capital market division. This division was established following the acquisition of ED&F Man Capital Markets in 2022.

Digital Assets

Talos introduces decentralized liquidity and onchain settlement with Uniswap and Fireblocks

“At the cornerstone of the DeFi ecosystem, Uniswap has the breadth of assets and depth of liquidity that institutional traders need. And to have this partnership powered by Fireblocks, a digital assets infrastructure provider trusted by some of the most renowned institutions, is very fitting.”

Digital Assets

FINMA-regulated crypto bank SEBA Bank rebrands to AMINA

“As we look forward to 2024, our ambition is to accelerate the growth of our strategic hubs in Switzerland, Hong Kong, and Abu Dhabi, and to continue our global expansion, building on all the successes we have laid down over the past years.”