Brokers, Market News|December 4, 2010 9:58 pm

FXCM IPO Done At $211M

Congratulations to the FXCM team for get a good IPO. Finally forex has entered mainstream. This will give others in the industry a lot of confidence. We should also see a lot of new players entering and start-ups testing the waters. Investors and venture capital s will also have renewed confidence in currency trading ventures now that the IPO exit strategy has presented itself.

The initial public offering translates to an FXCM valuation of just over $1 billion; which is a 16 times FXCM’s earnings multiple of 2010 after floating 15,060,000 Class A common stock priced at $14.00

Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and Citigroup Global Markets Inc. are acting as joint book-running managers of the offering. Barclays Capital Inc., Deutsche Bank Securities Inc., Sandler O’Neill & Partners, L.P. and UBS Securities LLC are acting as co-managers.

Tags: , , , , , , , , ,

Comments are closed

Forex Navigation