BCLP is advising fintech platform iForex on its planned £50 million IPO on the London Stock Exchange.
The listing is a rare tech float for London and comes as the market looks to revive its appeal to growth companies.
BCLP has scored the lead advisory role on iForex’s planned London IPO, in a boost to the UK’s IPO pipeline and a rare fintech listing for a market that's suffered several high-profile misses recently.
The online trading platform confirmed its intention to float on the London Stock Exchange’s main market on Monday (19 May), with the deal expected to complete in late June. The IPO is targeting a £50 million valuation, according to The Times.
iForex offers retail investors access to everything from crypto to commodities. The platform’s 2024 results show $50 million in revenue and just over $6 million in pre-tax profit.
The listing marks a modest but welcome boost for London’s equity markets, which have spent the last two years watching much of their tech pipeline reroute to New York. Just last week, trading platform eToro debuted in New York, following months of speculation that a London listing might be on the cards.
Also confirming its float on Monday was Cobalt Holdings, in a separate June listing expected to be the City’s biggest in nearly two years, with Latham & Watkins advising.
Advising
BCLP is advising iForex on the listing, with London partners Jonathan Morris and Tom Bacon leading a multi-disciplinary team that includes senior associate Lara Rush and associates John Adamson, Chidima Atueyi, Miriam Walters-Manneh and Isabella Oughtred.
What they said
Announcing its intention to float earlier in May, Itai Sadeh, CEO of iForex, said "We are delighted to announce our potential IPO in London. The BCLP team has been working tirelessly with us throughout the process and we greatly appreciate their deep commitment and strong dedication".
Join 10,000+ City lawyers who start their day with our newsletter.
The essential read for commercially aware lawyers.
