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Brexit donor Peter Cruddas to float CMC on London Stock Exchange

Discussion in 'Market News' started by Lily, Jan 11, 2016.

  1. Lily

    Lily Forum Member

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    Company of former Conservative party treasurer – one of City’s richest men – likely to be valued at more than £1bn

    Peter Cruddas, the former Conservative party treasurer who is donating to the campaign to leave the EU, is set to make hundreds of millions of pounds by floating the online trading firm he founded. CMC Markets, which is likely to be valued at more than £1bn, is to announce as early as this week that it will float on the stock market.

    If it goes ahead, it will be the first major flotation in London in 2016. Sources said CMC was expecting to raise around £250m from the initial public offering (IPO) by selling shares.

    Related: Peter Cruddas: from East End lad to 'Monaco boy'

    Related: City financier Peter Cruddas donates £1m for campaign to leave EU

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