The IPO of FXCM might happen today, December 1st after all. There have been contradictory reports on different news sites – some say it will happen today, and some tomorrow. The latest report by Globesfrom 13:00 GMT today, says that the IPO will happen today, and that FXCM will receive a net income of 197.1 million dollars.
The US forex broker will raise more money, probably around $225 million, but the costs will leave it with $197.1 million. These numbers are based on the midpoint average share price of $14.
According to Globes (Hebrew link), this move will place FXCM as a world leader, and will also give a boost to the whole forex industry.
I certainly agree, and I see FXCM’s stock becoming †The Forex Stockâ€. Read more about this event with the $1 billion valuation for FXCM.
The IPO is closely followed by Gain Capital (forex.com) which also submitted a prospectus for an IPO. A success of FXCM will open the road for Gain Capital.
I’ve reported yesterday that market experts said that IPOs led by Credit Suisse are usually successful. We’ll know soon…
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