IG Group proposes Jersey holding structure amid strong trading

(Sharecast News) - IG Group said on Wednesday that it plans to establish a new Jersey-incorporated holding company, subject to shareholder and regulatory approval, as part of its strategic review, while retaining its London Stock Exchange listing, UK tax residence and London operations. The FTSE 100 company also announced a streamlined organisational structure, combining its UK & Ireland, Europe, and Asia-Pacific and Middle East consumer businesses into a single division led by Michael Healy.

Separately, IG said it expected first-half revenue of about £643m, up around 18% year on year, with organic revenue rising about 16% to £624m.

The company said trading remained strong in the second quarter and reiterated full-year guidance, expecting results to be in line with market expectations while continuing to assess acquisitions, listing venues and potential combinations with other industry participants as part of its strategic review.

At 0856 BST, shares in IG Group Holdings were down 2.36% at 1,818p.

Reporting by Josh White for Sharecast.com.

See latest RNS on Investegate