May 9 (Reuters) - Online trading platform iFOREX is
considering listing its shares on the London Stock Exchange to
boost its clientele base and brand visibility, the fintech
company said on Friday.
The company, which was founded in 1996 by Eyal Carmon,
offers Contract for Difference (CFD) and forex trading through
its platform across a wide range of financial instruments, such
as commodities, indices, shares and cryptocurrencies.
Britain's financial markets have been losing out to rivals
on big initial public offerings (IPO), leading to sweeping
reforms to make London more attractive for companies to list in.
U.S. tariffs have further worsened the situation, but
analysts are hopeful that online fast-fashion retailer Shein's
much-awaited London IPO and Swedish payment firm Klarna's New
York listing could revive the UK's dormant IPO market.
"London is one of the most attractive and competitive
capital markets in the world, with a deep understanding of
fintech companies," iFOREX chief Itai Sadeh said in an intention
to float statement.
The company plans to invest proceeds from the IPO to boost
branding, adopt AI-driven technologies and obtain new regulatory
licenses to increase penetration into new and existing markets.
iFOREX reported trading income of $50.1 million and adjusted
pre-profit of $7.6 million for the year ended December 31.