Spread betting firm CMC Markets is to finally pull the trigger on a listing on the London Stock Exchange.
The firm, which has been mulling going public for some years, expects to list in early February.
It will offer shares to certain institutional investors, while retail investors will be able to participate in the share offer via intermediaries in the UK.
There will also be a share offer to eligible clients of the financial services firm.
The company said it would raise gross primary proceeds of around £17mln from the listing to cover listing and staff incentive plan costs.
Founding shareholders Peter and Fiona Cruddas will sell some of their holdings in the company, as will Goldman Sachs, which took a strategic 10% stake in the company several years ago.
Peter and Fiona Cruddas will together remain majority shareholders of CMC Markets and have agreed to a 730 calendar day lock-up period in respect of half of their shares held as at admission, and a 1,095 calendar day lock-up period in respect of the remaining shares.
Shorter lock-up periods have been agreed with other significant shareholders, including Goldman Sachs.
“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. Our clients are at the heart of everything we do at CMC and I am delighted that they will have the opportunity to become shareholders in the group as we embark upon the next stage of our journey,"said Peter Cruddas, who is chief executive officer of the company.
In the six months to 30 September 2015, the company reported underlying earnings (EBITDA) of £30.1mln, up 72% year-on-year.
It has continued to see growth across its key metrics year on year, it reported.
“Market volatility in October and November was not as high as in August and September, but nevertheless the group performed well, continued to make good progress across its areas of strategic focus and finished the third quarter on track to meet its full year expectations,” it told investors.