AvaTrade Reportedly Hires Bankers for London IPO

AvaTrade, a privately held online forex and CFD broker, has reportedly hired JP Morgan and Jefferies to prepare the ground for an IPO of the company, which could come in the coming months.

The report suggested that the Irish online trading platform is looking at a listing in London, that could value the company at between £500 million and £700 million. 

The broker could initially apply for a listing on the AIM market of the London Stock Exchange (LSE), a sub-market of the LSE, where smaller companies are traded, and also offers a more flexible regulatory system compared to the main stock exchange.

It is reported that AvaTrade has a client base of over 300,000 traders, spread across 150 countries. The company is controlled by its two founders Emanuel Kronitz and Negev Nosatski and regulated by the Central Bank of Ireland. It also has licensed subsidiaries in Australia, South Africa, Japan, the UAE, and Israel.