IFOREX Financial Trading Holdings Ltd announced today that the proposed initial public offer (IPO) on the London Stock Exchange, which is expected to occur in late June, will be delayed.
The company stated that a routine thematic compliance inspection began earlier this year at BVI, which was revealed in the company’s registration document, it takes additional time to be able to finalize before the iPO. Iforex claims that the inspection process is close to completion.
The company expects only a brief delay in the IPO timetable.
Iforex commented:
“The company is pleased with the strong interest of investors for IPO. Based on fixed orders taken to date, institutional offer is largely overly limited to the top of the indicative valuation range.”