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, which 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 a 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,
IFGreported 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 “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, which 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 a 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,
IFGreported 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 “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.
Relive the best moments from the Finance Magnates Pacific Summit 2024 with our highlights video! ✨
From action-packed moments, insightful speaker sessions, the exclusive Opening Blitz, and immersive workshops, this video captures the energy and excitement of FMPS:24. Whether you attended or missed out, here’s your chance to experience the top moments that made FMPS:24 unforgettable.
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Relive the best moments from the Finance Magnates Pacific Summit 2024 with our highlights video! ✨
From action-packed moments, insightful speaker sessions, the exclusive Opening Blitz, and immersive workshops, this video captures the energy and excitement of FMPS:24. Whether you attended or missed out, here’s your chance to experience the top moments that made FMPS:24 unforgettable.
🎬 Watch, share, and join the conversation!
Don’t forget to use the hashtags #fmps #fmps24 #FMevents when sharing.
Stay tuned for more events. See you next time!
📣 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
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Transformation in the APAC Trading Landscape and Beyond | FMPS:24
Transformation in the APAC Trading Landscape and Beyond | FMPS:24
As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
📣 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
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Don't miss out on our latest videos, interviews, and event coverage.
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As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
📣 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
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🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
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Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
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👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
📣 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
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🐦 Twitter: https://twitter.com/F_M_events
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Ready to Scale? Regtech in Australia, A Global View | FMPS:24
Ready to Scale? Regtech in Australia, A Global View | FMPS:24
In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
📣 Stay updated with the latest in finance and trading!
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In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
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Resilience in Trading: From Third Class To World Class | FMPS:24
Resilience in Trading: From Third Class To World Class | FMPS:24
Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
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Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
📣 Stay updated with the latest in finance and trading!
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