By Telis Demos
IronFX Global Ltd., an online brokerage that trades currencies
and other instruments, is working on a potential 2015 initial
public offering in the U.S., according to people familiar with the
matter.
The Cyprus-based company has filed confidentially for the
offering but likely won't launch the deal until next year, the
people said. The company may aim for a valuation of more than $800
million in the deal, the people added. It is working with banks,
including Barclays PLC, UBS AG and Credit Suisse Group AG on the
offering, they said.
An IronFX IPO would come as foreign-exchange trading volume
picks up after a long period of tepid activity.
Shares in U.S.-listed online-trading brokers have jumped in the
past three months, as volatility has increased across markets
because of divergences in central bank policy in the U.S., Japan
and Europe. Gain Capital Holdings Inc. is up 31% in that time, and
FXCM Inc. is up 15%. But both stocks are still well below their
highs reached in 2013.
IronFX offers trading in currencies, derivatives, stocks and
other financial products to small individual retail traders and
institutions, such as hedge funds. It operates in Europe, Asia, the
Middle East, Africa and Latin America.
Write to Telis Demos at telis.demos@wsj.com
Access Investor Kit for Barclays Plc
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=GB0031348658
Access Investor Kit for Barclays Plc
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=US06738E2046
Access Investor Kit for FXCM, Inc.
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=US3026931069
Access Investor Kit for GAIN Capital Holdings, Inc.
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=US36268W1009