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IG Group Holdings plc has completed its acquisition of Freetrade, effective April 1, 2025, following the announcement on January 16, 2025. CEO Breon Corcoran expressed enthusiasm about collaborating with Freetrade's team, while co-founder Viktor Nebehaj highlighted the potential for accelerated growth and product development with IG's support.
IG Group has finalized its £160 million acquisition of Freetrade, enhancing its presence in the UK direct-to-consumer investment market. Freetrade will operate independently under CEO Viktor Nebehaj, who aims to accelerate product development and growth. With 720,000 customers and £2.5 billion in assets, Freetrade reported a 32% revenue increase last year, prompting IG to invest significantly in its expansion.
IG Group Holdings plc has successfully completed its acquisition of Freetrade, effective April 1, 2025, following the announcement on January 16, 2025. CEO Breon Corcoran expressed enthusiasm about collaborating with Freetrade's team, while co-founder Viktor Nebehaj highlighted the potential for accelerated growth and product development with IG's support.
IG Group Holdings plc has successfully completed its acquisition of Freetrade, announced on January 16, 2025. CEO Breon Corcoran expressed excitement about the collaboration, while Freetrade's CEO Viktor Nebehaj highlighted the advantages of joining forces to enhance product offerings and accelerate growth. This strategic move aims to expand IG's customer base and improve the overall customer experience.
IG Group has successfully completed its acquisition of Freetrade, originally announced on January 16, 2025. CEO Breon Corcoran expressed enthusiasm for the collaboration, while Freetrade's CEO Viktor Nebehaj highlighted the potential for accelerated growth and enhanced customer offerings through IG's resources. The acquisition aligns with IG's strategy to expand its customer base and product portfolio.
IG Group reported a 41% rise in pre-tax profits to £249.3 million for the first half of the year, driven by an 11% increase in revenues to £522.5 million, aided by lower costs after job cuts. However, CEO Breon Corcoran noted a decline in active clients and emphasized the need for further growth despite improved market conditions.
CMC Markets shares fell 14.3% despite a strong first-half performance, with net operating income rising 45% to £177.4 million and a profit of £49.6 million. The decline follows a recent rally, even as the firm remains optimistic about meeting its full-year guidance amid increased market volatility. In contrast, rival IG Group reported a 30% rise in adjusted pre-tax profits, bolstered by improved trading conditions and a £50 million share buyback extension.
IG Group has announced an additional £50m for share buybacks, increasing its total program to £200m following the acquisition of trading app Freetrade for £160m. The company's six-month results showed an 11% revenue increase to £522.5m and a 30% rise in adjusted profit before tax to £266.8m. Despite strong growth, analysts had mixed reactions, with some expressing concerns over trading revenue falling short of expectations.
IG Group reported a 30% rise in adjusted pre-tax profit to £266.8m for the six months ending November 30, 2024, amid supportive market conditions, with total revenue increasing 11% to £522.5m. The company is extending its share buyback program by £50m to £200m and has raised its interim dividend to 13.86p. CEO Breon Corcoran emphasized the need to grow active customers and highlighted the recent acquisition of Freetrade to enhance IG's UK trading offerings.
IG Group has acquired Freetrade, the free share dealing app, for £160 million, significantly lower than its peak valuation of £650 million during the pandemic. Crowdfunding investors are expressing concerns over substantial losses, as the platform's valuation dropped to £225 million in 2023. Despite this, Freetrade reported its first profitable half-year in 2023 and plans to expand its product offerings under IG's ownership.
Breon Corcoran
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