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IG Group slumps after TCMI sells 15.5m shares
28th Jan 2022 07:43
(Sharecast News) - IG Group slumped on Friday after shareholder TCMI sold 15.5m shares in the online trading platform.
The shares were placed 780p each, which is a 7.5% discount to the closing share price on Thursday.
According to Bloomberg, Barclays and Jefferies were the bookrunners.
At 0900 GMT, IG shares were down 6.6% at 790p.
TCMI received shares in IG when the London-listed group bought US online brokerage and investor education platform Tastytrade last year in a $1bn deal. TCMI was one of Tastytrade's two largest investors.
On Thursday, IG shares rallied after it hailed a "record" first-half performance across all of its businesses.
The shares were placed 780p each, which is a 7.5% discount to the closing share price on Thursday.
According to Bloomberg, Barclays and Jefferies were the bookrunners.
At 0900 GMT, IG shares were down 6.6% at 790p.
TCMI received shares in IG when the London-listed group bought US online brokerage and investor education platform Tastytrade last year in a $1bn deal. TCMI was one of Tastytrade's two largest investors.
On Thursday, IG shares rallied after it hailed a "record" first-half performance across all of its businesses.