IG Group Holdings Plc (LSE:IGG) said it plans to sell the North American Derivatives Exchange Inc. (Nadex) and its 39% holding in Small Exchange Inc. to Foris DAX Markets Inc. for US$216mln in cash.
Foris DAX is part of a group of companies that trade as crypto.com.
The sale, which is expected to close in the first half of 2022, will not have a material impact on IG’s guidance for full-year adjusted operating profit or medium-term revenue growth, the online trading provider said in a statement.
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"We're really excited by this deal, as it delivers a significant return on the previous investments made in Nadex and Small Exchange and enables additional investment across all our businesses,” said IG chief executive June Felix.
“This deal also allows us to further sharpen our focus on integrating and expanding the US options and futures business through our tastytrade and tastyworks franchises, both in the US and internationally, where we see significant room for growth."