IG Group Holdings (IGG)

Sector:

Financials

Index:

FTSE 250

730.00p
   
  • Change Today:
      3.00p
  • 52 Week High: 778.00
  • 52 Week Low: 611.00
  • Currency: UK Pounds
  • Shares Issued: 375.38m
  • Volume: 1,502,899
  • Market Cap: £2,740.31m
  • RiskGrade: 149

IG Group strikes $1bn deal to buy US broker

By Abigail Townsend

Date: Thursday 21 Jan 2021

LONDON (ShareCast) - (Sharecast News) - IG Group is to expand its US presence after agreeing a $1bn deal to acquire American broker tastytrade, the online trader announced on Thursday, as it posted record interim numbers.
IG said a total of $1bn will be paid to shareholders in tastytrade, a specialist in exchanged traded options and futures, $300m of which will be in cash and the remaining amount via 61.0m IG shares valued at $700m.

Chief executive June Felix said: "This is an incredibly exciting, landmark deal that is fully aligned to [our] growth strategy. It will see IG diversify into the high-growth market of US exchange traded options and futures, a market with an estimate 1.5m retail traders, and we are confident that this transaction will materially expand our US presence."

The announcement came as the FTSE 250 firm posted record interim numbers, after the Covid-19 pandemic saw volatility spike across markets. Net trading revenue in the six months to 30 November surged 67% year-on-year, to £416.9m, while pre-tax profits jumped 129% to £231.1m. IG said both figures were a record.

Active clients rose 55% to 238,600.

Felix said: "Demand for our products remained high, benefitting from favourable trading conditions.

"While the level of financial market volatility has reduced from the peaks seen in the fourth quarter of the 2020 full year, it remains elevated and the macro environment continues to be uncertain.

"Should we see further normalisation in financial market volatility, or a stabilisation in the macro environment, we would anticipate some reduction in the level of client acquisition and activity. However, our active client base in now materially larger, with levels of new client retention comparable to historical averages."

The tastytrade deal, which remains subject to regulatory clearance, is expected close later this year.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

IGG Market Data

Currency UK Pounds
Share Price 730.00p
Change Today 3.00p
% Change 0.41 %
52 Week High 778.00
52 Week Low 611.00
Volume 1,502,899
Shares Issued 375.38m
Market Cap £2,740.31m
RiskGrade 149

IGG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
73.02% above the market average73.02% above the market average73.02% above the market average73.02% above the market average73.02% above the market average
46.67% above the sector average46.67% above the sector average46.67% above the sector average46.67% above the sector average46.67% above the sector average
Price Trend
42.51% above the market average42.51% above the market average42.51% above the market average42.51% above the market average42.51% above the market average
32.76% above the sector average32.76% above the sector average32.76% above the sector average32.76% above the sector average32.76% above the sector average
Income
75.03% above the market average75.03% above the market average75.03% above the market average75.03% above the market average75.03% above the market average
63.64% above the sector average63.64% above the sector average63.64% above the sector average63.64% above the sector average63.64% above the sector average
Growth
59.18% below the market average59.18% below the market average59.18% below the market average59.18% below the market average59.18% below the market average
33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average

What The Brokers Say

Strong Buy 3
Buy 3
Neutral 2
Sell 0
Strong Sell 0
Total 8
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

IGG Dividends

  Latest Previous
  Interim Final
Ex-Div 01-Feb-24 21-Sep-23
Paid 01-Mar-24 19-Oct-23
Amount 13.56p 31.94p

Trades for 28-Mar-2024

Time Volume / Share Price
18:00 162,760 @ 729.91p
16:54 46,082 @ 730.91p
16:35 724,127 @ 730.00p
16:35 482 @ 730.00p
16:35 1,459 @ 730.00p

IGG Key Personnel

Chair Robert Michael McTighe
CFO Charlie Rozes
CEO Breon Corcoran

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