The IG Group, which set up nearly 25 years ago, has grown online over the last three years to the point where a London Stock Exchange listing is planned by the end of the month. Financial director Tim Hawkins and senior management hope to raise #13m through the share release and market valuation of the company at #110m.
Although management hopes to pump #2m back into the 130 employee business, the flotation will raise money to generate revenue to start paying original shareholders and staff share options.
The group, which provides punters with financial or sporting spread betting options, has grown in pre-tax profit from #1m in 1998 to #10m last year and is looking to acquire some of its direct competitors and move into Europe. ‘The European market is going to be tough. You can bet on anything in the UK. On the continent they look upon you as mad if you ask to put a bet on a general election,’ added Hawkins
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.
Kevin Reed discusses whether new accountancy group Cogital can rival the Big Four...and its likely direction of travel