IG Group Commences Second £75 Million Share Buyback Tranche

World-leading derivatives trading company IG Group has announced that it will use UBS AG London Branch to purchase up to £75 million worth of shares in the latest phase of its share buyback program, which is expected to be completed by January 31, 2025. The shares purchased will be held in treasury as part of a wider initiative to reduce the company's share capital.

The buyback program was first disclosed when IG Group announced its full-year results in July, and the first tranche of buybacks has already been completed. The company recently published its FY25 first quarter revenue update, showing total revenues for the three months to August 31 of £278.9 million, up 15% year-on-year. Despite the growth, IG noted a 1% decline in total active clients to 263,200 from 267,000 in the first quarter of FY24.