FxPro ditches IPO plans again
FxPro has apparently abandoned plans for a London stock market flotation as a result of the UK regulator’s plan to crackdown on the growing financial spread betting market, according to Sky News. Cyprus-based FxPro is one of the largest retail FX firms and has a large UK client base, and the firm’s abandonment of plans to […]
Cyprus-based FxPro is one of the largest retail FX firms and has a large UK client base, and the firm’s abandonment of plans to list on London’s stock exchange is being speculated upon by various mainstream news sources, with the left-leaning Sky News citing the new proposals on how CFDs are offered to be the reason.
This should be viewed with caution because many FxPro customers are spot FX traders, and the firm certainly has the size and might to list, thus we believe this to be the incorrect reason for pulling out of an IPO.
FxPro has stated its intentions toward listing several times, and not proceeded with any of them, hence it is likely to be corporate structural reasons rather than the proposed FCA rulings on CFDs that are hampering any IPO aspirations.
Sky News reports that FxPro has written to a number of prospective non-executive directors lined up for boardroom positions following the IPO to inform them that the company will remain in private hands for now.
