IG Group proposed a new Jersey-based parent company on Wednesday, alongside a trading update that showed growth was partly acquisition-driven.
IG Group Holdings plc (LSE:IGG) plans to insert a new Jersey-incorporated company above itself as parent, subject to shareholder and regulatory approval. The move, unveiled alongside a trading update, sent shares down as much as 2.9% on Wednesday morning.
Shares in the London-listed trading platform fell to a low of 1,807p in early trading on Wednesday, before recovering slightly to change hands around 1,823p, down 2.1% on the previous close of 1,862p. The stock has climbed sharply since last autumn, buoyed by a share buyback and FTSE 100 inclusion, and remains close to its 52-week high of 1,956p.
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Under the proposal, a new Jersey-incorporated company would become IG Group’s ultimate parent. Existing shareholders would receive new shares in the Jersey company on a one-for-one basis via a court-approved scheme of arrangement, needing sign-off from shareholders, the Financial Conduct Authority and other regulators. A shareholder circular is due in the third quarter of 2026, with completion targeted for the fourth quarter. IG said the London listing, FTSE index eligibility, UK tax residency and effective tax rate would be unaffected, as would its London operations. The company said the change would better reflect an increasingly international business, with around two-thirds of revenue now generated outside the UK.
Alongside the restructuring, IG reported revenue of about £643m for the six months through June, up 18%. Active customer numbers rose 66% and first trades more than doubled, but IG said much of that came from its acquisitions of neobroker Freetrade and crypto exchange Independent Reserve; stripping those out, active customer growth was closer to 13%. Full-year guidance was reiterated rather than raised, at organic revenue growth of 10% to 15% and mid-40s% EBITDA margins. IG is also merging its regional consumer arms into a single division under Michael Healy, while keeping its North American business, run by Michael Vaughan, and a renamed institutional arm, IG Securities under Andy Biggs, separate.
The proposal comes three months into a strategic review launched in March 2026, due to report in the autumn and covering options including IG’s listing venue and possible combinations with other industry participants. Bloomberg reported in March that IG had been weighing a move to New York. Rivals Plus500 and CMC Markets have also been exploring listing and capital return options of their own.
Analysts remain broadly positive on IG despite Wednesday’s fall.
IG’s full interim results, due 31 July 2026, are expected to give more detail on the Jersey proposal. The shareholder circular follows in the third quarter, with the scheme targeted to complete in the fourth quarter, while the wider strategic review concludes in the autumn. For shareholders, the immediate change is procedural, a share swap rather than a shift in economic ownership, but the review’s outcome could decide whether IG remains a straightforward London-listed stock or shifts toward a different listing venue or corporate combination altogether.