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IG Group Initiates EUR75 Million Share Repurchase Amid Declining Profits
Abstract：IG Group has announced the launch of a £150 million share buyback program, with Morgan Stanley & Co. International Plc appointed to execute the first tranche of the scheme. This initiative, running from 12 August 2024 to 31 October 2024, is designed to reduce the firm's share capital.
IG Group has announced the launch of a £150 million share buyback program, with Morgan Stanley & Co. International Plc appointed to execute the first tranche of the scheme. This initiative, running from 12 August 2024 to 31 October 2024, is designed to reduce the firm's share capital.
The decision follows a similar successful buyback earlier in 2024, reflecting IG Group's confidence in managing its share capital amidst financial challenges. Under this program, up to 19,990,397 shares can be repurchased, leveraging the rights established during the company's annual general meeting on 19 September 2023. This comes on the heels of a $20 billion common shares repurchase program completed in July 2024.
IG Group's 2024 business year results highlight operational difficulties, with pre-tax profit dropping 11% to £400.8 million and annual revenue decreasing by 3% to £987.3 million. The firm also reported a 10% decline in net trading revenue due to reduced client activity and trading volumes.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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Prop Firm Tradeify Signs ‘The Nuke’ as Global Brand Ambassador
Miami-based prop trading firm Tradeify has officially announced a major long-term partnership with Luke “The Nuke” Littler, the current World Number 1 and reigning 2024/2025 PDC Darts World Champion. Littler joins Tradeify as its new Global Brand Ambassador, marking one of the company’s most significant branding investments to date.
Original 1h
Seacrest Markets Exposed: Are You Facing Payout Denials and Spread Issues with This Prop Firm?
Seacrest Markets has garnered wrath from traders owing to a variety of reasons, including payout denials for traders winning trading challenges, high slippage causing losses, the lack of response from the customer support official to address withdrawal issues, and more. Irritated by these trading inefficiencies, a lot of traders have given a negative review of Seacrest Markets prop firm. In this article, we have shared some of them. Take a look!
Original 18h
GKFX Review: Are Traders Facing Slippage and Account Freeze Issues?
Witnessing capital losses despite tall investment return assurances by GKFX officials? Do these officials sound too difficult for you to judge, whether they offer real or fake advice? Do you encounter slippage issues causing a profit reduction on the GKFX login? Is account freezing usual at GKFX? Does the United Kingdom-based forex broker prevent you from accessing withdrawals? You are not alone! In this GKFX review guide, we have shared the complaints. Take a look!
Original 20h
Is Seaprimecapitals Regulated? A Complete Look at Its Safety and How It Works
The straightforward answer to this important question is no. Seaprimecapitals works as a broker without proper regulation. This fact is the most important thing any trader needs to know, because it creates serious risks for your capital and how safely the company operates. While this broker offers some good features, like the popular MetaTrader 5 platform and a low starting deposit, these benefits cannot make up for the major risks that come from having no real financial supervision. This article will give you a detailed, fact-based look at Seaprimecapitals regulation, what the company claims to do, the services it provides, and the clear differences between official information and user reviews. Our purpose is to give you the information you need to make a smart decision about the risks and benefits of working with this company.
Original 21h
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