On Tuesday, iFOREX Financial Trading, the fintech trading platform, announced a brief delay to its eagerly anticipated Initial Public Offering (IPO) on the London Stock Exchange, which was originally slated for late June.
iFOREX Delays IPO
The company stated that the postponement is due to a “routine thematic compliance inspection” initiated earlier this year in the British Virgin Islands (BVI).
This inspection, which was disclosed in the company’s Registration Document, requires “additional time to enable finalisation ahead of the IPO.”
iFOREX anticipates “only a short delay” to the overall IPO timetable, noting that the inspection process is “close to completion.”
Despite this minor setback, iFOREX expressed considerable satisfaction with the investor appetite for its shares.
The firm confirmed it is “delighted with the strong investor interest in the IPO,” with the institutional offer “heavily oversubscribed at the top of the indicative valuation range” based on firm orders received to date.
iFOREX, founded in 1996, operates online and mobile trading platforms, providing retail clients with access to over 870 instruments for trading Contracts for Difference (CFDs).
The company had reported revenues of $50.1 million (£38 million) for 2024, with pretax profits exceeding $6 million, underscoring the strong fundamentals that have attracted significant investor interest.
