Today represents the inaugural day of trading in the shares of binary options technology provider TechFinancials.
The shares began trading at 26.74 pence on London Stock Exchange’s Alternative Investment Market (AIM), a venue which is very much in favor with technology providers and brokers within the FX industry, as it is also home to SafeCharge International Group Ltd (LON:SCH) and Plus500 Ltd (LON:PLUS) stock.
Financially, TechFinancials is still more binary options broker than technology provider. In the first half of 2014 (the last period which TechFinancials broke out in the prospectus), TechFinancials did just over $7 million in Revenue – $3M from its platform business, and more than $4M from operating its own CySEC-regulated OptionFair binary brand.
At the beginning of this month, LeapRate exclusively reported the full prospectus relating to the proposed initial public offering of TechFinancials shares, detailing the full extent of the firm’s expansion plans once the funds have been raised as a result of publicly traded shares becoming available, some of which developments include the forthcoming launch of a simplified FX trading platform a multi-asset trading platform, and the opening of an office in China which would be the firm’s second Asia-Pacific operation following the launch of a sales office in Tokyo early last year.