CMC Markets plans £770m IPO in February

CMC Markets plans to list on the London Stock Exchange's main market next month.

Retail trading broker CMC Markets has confirmed it intends to join the main market of the London Stock Exchange in early February.

The group - which operates platforms for spread betting and FX traders - is expected to be valued at around £770 million when it lists, according to analysts quoted in media reports this morning.

Formed in 1989, CMC Markets has more than 44,000 clients and offices in 14 countries around the world.

In a statement issued to the media, Peter Cruddas, founder and chief executive of CMC Markets, said the company had benefited from the transformative effect of online and mobile trading in recent years.

He added: “Bringing CMC to the public markets will enable us to continue to grow our global brand, build our client base, attract and retain employees and enhance our ability to enable retail traders around the world to trade.”

CMC’s platform can trade around 10,000 financial instruments ranging from shares, indices, foreign currencies, commodities and treasuries through contracts for difference (CFDs) and spread bets.

 Simon Waugh, Non-Executive Chairman of CMC, added: "We have a management team ready to build on our excellent foundations and offer investors a balance of growth and shareholder returns.

“I am confident that CMC has an extremely positive future and we look forward to delivering value for all our shareholders as a publicly-listed company.”