AvaTrade, a Dublin-based online trading platform has hired JP Morgan and Jefferies to oversee an initial public offering (IPO).
AvaTrade plans to conduct an initial public offering (IPO) in the upcoming months. In preparation for the IPO, Avatrade, which already has more than 300,000 clients decided to hire JP Morgan and Jefferies so that their listing on the London Stock Exchange could run smoothly.
AvaTrade, founded in 2006 by Emanuel Kronitz and Negev Nosatzki, was initially able to apply for listing on the AIM market at London Stock Exchange (LSE). AIM is a sub-market of LSE where small companies are traded. AIM also offers a more flexible regulatory system than major stock exchanges.
AvaTrade Eyes IPO At The Value Of £700 Million
This proposed IPO will see AvaTrade join the ranks of other UK registered brokers, such as CMC Markets, Plus500, and the IG Group. According to reports, the planned listing of AvaTrade's shares on the London Stock Exchange will make the Irish online trading brokerage worth between £500 million and £700 million.
The high jump in valuations attests to the high growth of AvaTrade. Throughout 2020, AvaTrade managed to win several awards because of its amazing performance last year.
At the high end of its IPO range, broker AvaTrade will be worth six times the price proposed by Playtech in 2015. Playtech is a gambling software company that offered to pay AvaTrade $105 million, but the deal fell through after that because the Irish central bank is against the acquisition.