IG Group returns to the market

There were concerns that fund managers were going to try and block the flotation due to the high price being asked by CVC. In the end the company floated with an issue price of 120 pence per share, at the lower end of its 112 pence to 139 pence price range, valuing the company at £393m. This is just under three times the £143m CVC paid for the company in July 2003. The firm has reduced its holding in IG from 59.3% to 24.7%.

UBS Limited is acting as global coordinator, bookrunner and sponsor to IG with Bridgewell Limited and Numis Securities Limited acting as joint lead managers. UBS and Lexicon Partners Limited are acting as joint financial advisers to IG.