IG Group slumps after TCMI sells 15.5m shares
IG Group slumped on Friday after shareholder TCMI sold 15.5m shares in the online trading platform.
Financial Services
11,876.18
17:20 25/05/22
0.26%
30.68
FTSE 250
19,934.04
17:20 25/05/22
n/a
n/a
FTSE 350
4,181.75
17:20 25/05/22
n/a
n/a
FTSE All-Share
4,147.08
17:20 25/05/22
n/a
n/a
IG Group Holdings
716.00p
17:18 25/05/22
0.70%
5.00p
The shares were placed 780p each, which is a 7.5% discount to the closing share price on Thursday.
According to Bloomberg, Barclays and Jefferies were the bookrunners.
At 0900 GMT, IG shares were down 6.6% at 790p.
TCMI received shares in IG when the London-listed group bought US online brokerage and investor education platform Tastytrade last year in a $1bn deal. TCMI was one of Tastytrade’s two largest investors.
On Thursday, IG shares rallied after it hailed a "record" first-half performance across all of its businesses.