The buyback, managed by UBS, aims to reduce share capital and is set to complete by January 2025.
The program was initiated in August, and its first part was successfully completed.
IG Group
Holdings plc (LSE: IGG)
announced today (Wednesday) the commencement of the second tranche of its £150
million share buyback program. The company has instructed UBS AG London Branch
to execute this phase. It will involve repurchasing up to £75 million worth
of shares.
IG Taps UBS for £75M Share
Repurchase Program
The second
tranche, set to begin immediately, is expected to conclude by January 31, 2025.
This follows the successful completion of the first £75 million tranche, which
was initiated in August and managed by Morgan Stanley & Co.
International Plc.
The buyback
will be conducted within the parameters approved by shareholders at IG Group's
annual general meeting held on September 18, 2024. Under this authority, the
company can repurchase up to 36,934,031 shares during the second tranche.
IG Group
has emphasized that the sole purpose of the buyback program is to reduce share
capital. All repurchased shares will be held in treasury, potentially affecting
the company's outstanding share count and earnings per share calculations.
This latest
buyback initiative comes on the heels of IG Group's fiscal year 2024 results,
which saw some headwinds. The
company reported an 11% decrease in pre-tax profit to £400.8 million and a
3% decline in total annual revenue to £987.3 million.
“I’ve identified
areas requiring change,” stated Breon Corcoranm the CEO of IG Group. “We have
lots of work to do to take IG to the next level and address the challenges we
face.”
However, as
it turns out, the previous quarter looked much better.
IG's Fiscal Q1 2025
Revenue Sees 15% Increase
The
London-listed company concluded the first fiscal quarter of 2025, spanning June
to August, with a significant revenue increase. Total revenue reached £278.9
million, marking a 15% rise compared to the previous year. This growth was
primarily fueled by an increase in revenue per client and heightened volatility
in various asset classes observed in early August.
Additionally,
IFG reported a 14% increase in over-the-counter (OTC) derivatives revenue, which
amounted to £208.1 million. Revenue from exchange-traded derivatives also saw a
notable jump of 20%, reaching £59.6 million. The rest of the revenue, totaling
£11.2 million, was derived from stock trading and investments.
Meanwhile,
Daily FX, previously a trading news and forex analysis platform operated by IG
Group, has been discontinued, with its website now redirecting to the group's
main site. The company also launched the “Trade Live with IG” morning show.
IG Group
Holdings plc (LSE: IGG)
announced today (Wednesday) the commencement of the second tranche of its £150
million share buyback program. The company has instructed UBS AG London Branch
to execute this phase. It will involve repurchasing up to £75 million worth
of shares.
IG Taps UBS for £75M Share
Repurchase Program
The second
tranche, set to begin immediately, is expected to conclude by January 31, 2025.
This follows the successful completion of the first £75 million tranche, which
was initiated in August and managed by Morgan Stanley & Co.
International Plc.
The buyback
will be conducted within the parameters approved by shareholders at IG Group's
annual general meeting held on September 18, 2024. Under this authority, the
company can repurchase up to 36,934,031 shares during the second tranche.
IG Group
has emphasized that the sole purpose of the buyback program is to reduce share
capital. All repurchased shares will be held in treasury, potentially affecting
the company's outstanding share count and earnings per share calculations.
This latest
buyback initiative comes on the heels of IG Group's fiscal year 2024 results,
which saw some headwinds. The
company reported an 11% decrease in pre-tax profit to £400.8 million and a
3% decline in total annual revenue to £987.3 million.
“I’ve identified
areas requiring change,” stated Breon Corcoranm the CEO of IG Group. “We have
lots of work to do to take IG to the next level and address the challenges we
face.”
However, as
it turns out, the previous quarter looked much better.
IG's Fiscal Q1 2025
Revenue Sees 15% Increase
The
London-listed company concluded the first fiscal quarter of 2025, spanning June
to August, with a significant revenue increase. Total revenue reached £278.9
million, marking a 15% rise compared to the previous year. This growth was
primarily fueled by an increase in revenue per client and heightened volatility
in various asset classes observed in early August.
Additionally,
IFG reported a 14% increase in over-the-counter (OTC) derivatives revenue, which
amounted to £208.1 million. Revenue from exchange-traded derivatives also saw a
notable jump of 20%, reaching £59.6 million. The rest of the revenue, totaling
£11.2 million, was derived from stock trading and investments.
Meanwhile,
Daily FX, previously a trading news and forex analysis platform operated by IG
Group, has been discontinued, with its website now redirecting to the group's
main site. The company also launched the “Trade Live with IG” morning show.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!