5th Feb 2016 08:10
LONDON (Alliance News) - CMC Markets PLC on Friday priced its initial public offering towards the lower end of its guided range, as the spread better marked a new chapter in its history by joining the London Stock Exchange.
CMC's IPO was priced at 240.0 pence per share, valuing the company at about GBP691.0 million, measuring up against a guided range of 235.0p and 275.0p. Conditional dealings in the shares on the London Main Market begin Friday. The stock was quoted at the IPO price of 240.00p soon after the the open.
"The IPO marks the next step in our development. With our award-winning technology platform and our clear strategy for growth we look forward to the next chapter of the group's story with both excitement and confidence," Peter Cruddas, founder and chief executive, said.
"Our performance since the start of 2016 continues to be strong, helped by the ongoing market volatility, and we start our life as a public company well-positioned for continued growth and to deliver value for all of our shareholders," Cruddas said.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
CMC Markets