Plus500 IPO successful – company raises $25M, shareholders sell $50M


Plus500 IPO offering oversubscribed, size increased by 50%, share to begin trading Wed July 24.

Forex broker Plus500 has completed a successful IPO roadshow, and increased the planned size of its offering by 50%, from $50 million to $75 million, at a company valuation of $200 million. The company’s shares will begin trading this coming Wednesday, July 24 on the London Stock Exchange’s AIM market, under the ticker symbol PLUS.

It is important to note that just $25 million of the $75 million raised will be going to the company. The remaining $50 million will be shared by the company’s existing shareholders (see our previous post for a list of Plus500 shareholders), each of whom will be selling part of their interest in the company.

Plus500 is now the second successful IPO to be priced over the past month by a Forex broker — as we exclusively reported, Hong Kong FX broker KVB Kunlun went public on the Hong Kong HKEx exchange at the beginning of July, raising $16 million at a valuation of $117 million. KVB shares haven’t done that well since pricing, trading down 13% from the original placing price of HK$0.452 per share, to sit currently at HK$0.395.

Now that the Plus500 deal is done, the key question we’ve been asked is — Who is next? We do know of a number of Forex brokers, mainly in Europe, which are actively involved at various stages of IPO preparation and we expect news of the next deal to hit quickly, likely by the end of the summer. Stay tuned to LeapRate…

For more on the Plus500 IPO valuation see our previous post on the topic, comparing Plus500 to publicly traded comps such as FXCM, Gain Capital (Forex.com), and IG Group.

The full text of the Plus500 IPO press release can be found by clicking here.

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.

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Plus500 IPO successful – company raises $25M, shareholders sell $50M

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