IFOREX Financial Trading Holdings Ltd., a Fintech business with a privately owned trading platform and mobile phone for CFDS, announces that it is considering an initial public offer (“ipo” or “bid”) and has published a registration document today.
The company is considering applying for the entry of its usual shares into the shares (commercial companies) of the official list and negotiating in the main market of the London Stock Exchange.
The registration document has been approved by FCA.
If Iforex proceeds with iPO, the current expectation is that:
- The company will be accepted in the registration of the Company’s (Commercial Companies) category (commercial companies) of the official list and negotiation in the main market of the London Stock Exchange.
- The offer will consist exclusively of new ordinary shares.
- The offer will be made to institutional investors through installation along with an offer to intermediaries using the BookBuild platform for distribution to retail investors in the United Kingdom (“BookBuild mediators”).
- Eyal Carmon, a founder and shareholder of the majority of the business (“founder”), will remain IFOREX’s majority shareholder after entering and agreed to conclude relations agreement on the entrance. The founder will continue to help provide his experience with the business through a tips agreement with Recap Ltd., a company that is entirely owned by the founder.
- The founder, directors, proposed directors and some other senior directors and employees who have an interest in the usual shares through a Trust Employee (“ESOP”) have agreed in a 12 -month lock period and a subsequent 12 -month period for their markets.
- The company has hired Shore Capital and Corporate Limited as a sponsor and Shore Capital Stockbrokers Limited as Sole Bookrunner if the offer goes on.
IFOREX intends to invest revenue from IPO in the name, brand recognition and integration of new technologies, including AI, to enhance users’ experience and automation.
The company plans to obtain new regulatory licenses to increase penetration into new and existing markets.
The current intention is to maintain a progressive dividend policy and the dividend for FY25 is expected to be set in about 50% of customized profits (as opposed to the standard historical level of a significant part of the profits).
Itai Sadeh, CEO of Iforex, commented:
“We are pleased to announce the possible IPO in London. This news marks an important milestone for our business, as we continue to exploit high demand and long -term growth opportunities in our flourishing sector. Well, to accelerate growth and expand our markets.
“I would like to take this opportunity to thank our dedicated employees whose hard work and commitment have helped our success so far.
The team has received regulatory authorizations from the Cyprus Securities and Exchange Commission (“Cysec”) and provides services throughout the European Economic Area (“EEA”) (with the exception of Belgium and Cyprus) and has received “passports” granted according to Mifid.
The Group also has relevant regulatory authorizations by the Committee on Financial Services in the British Virgin Islands (“BVI”) and provides its services to customers outside the EEA (subject to regulatory restrictions) through the BVI entity, the Formula Investment House Limited.