CMC Markets UK plc has officially announced its plans to go public on the London Stock Exchange (LSE).
CMC Markets, a major online trading services provider and one of the largest Forex and CFDs brokers in the UK, said today that it intends to apply for admission of its ordinary shares to the premium listing segment of the Official List of the FCA and to trading on the main market of the London Stock Exchange plc. The admission of the company's shares is scheduled for early February 2016.
CMC Markets is offering its existing clients special offers depending on the number of shares they intend to purchase based on the amount of a shares in commissions paid to the brokerage. Customers who traded between £100 to £499 are eligible for up to £5,000 worth of shares, while those who have paid between £10 and £99 per share will be able to purchase between £500 and £1000 worth of shares. Anyone who paid above £500 per share in commissions to the brokerage will be able to purchase up to £20,000 worth of shares.
As part of the offering, CMC is expected to raise gross primary proceeds of approximately £17 million to meet admission and staff incentive plan costs.
CMC operates globally through regulated offices and branches in 14 countries, with a significant presence in the UK, Australia, Germany and Singapore. In total, the Group has retail clients based in more than 70 countries.
According to its own figures, in the six months to 30 September 2015, the Group had 44,017 active clients and the Group processed approximately 45 million and 34 million trades in the financial year ended 31 March 2015 and in the six months ended 30 September 2015, respectively.
For the six months ending 30 September 2015, the Group reported Net Operating Income and EBITDA of £78.9 million and £30.1 million, respectively, 34% and 72% ahead of the same period last financial year.
CMC is targeting £250 million of total revenue (before rebates) by the end of the financial year to 31 March 2020 (FY2015: £157.9 million).