CMS advises Shore Capital on IPO of iFOREX
CMS has advised Shore Capital and Corporate Limited on the initial public offering (IPO) of iFOREX Financial Trading Holdings Ltd (iFOREX) on the Main Market of the London Stock Exchange. On admission, iFOREX had a market capitalisation of £43m, based on a price of 195 pence per share. The company raised £8.75m through an oversubscribed offering of new ordinary shares in conjunction with its Main Market listing.
iFOREX is a FinTech firm founded in 1996 which operates a proprietary online and mobile trading platform, enabling retail clients to trade CFDs across more than 870 financial instruments, including currencies, commodities, indices, stocks, cryptocurrencies, and ETFs.
Itai Sadeh, CEO of iFOREX, commented: “I am extremely proud to mark this significant milestone as iFOREX successfully lists on the London Stock Exchange. This achievement reflects the hard work, innovation, and strong risk management that underpin our business. Listing on such a prestigious market not only validates our growth but also positions us to accelerate expansion, enhance our global brand, and continue delivering value to our clients in the rapidly evolving fintech landscape.”
The group’s activities are principally conducted in Cyprus, the British Virgin Islands, Greece and Israel.
The CMS team was led by Alasdair Steele, Jack Shepherd, Alice Frydl, Fraser Blair and Anna Compagnoni (Corporate).
