Tastytrade co-founders Sosnoff and Sheridan sell 6.5m shares in IG Group
IG Group Holdings
1,000.00p
16:34 07/01/25
0.15%
1.50p
Jefferies said late on Wednesday that Tom Sosnoff and Scott Sheridan had sold 6.5m IG Group shares in a placing to a limited number of institutional investors.
Financial Services
17,735.46
17:14 07/01/25
0.84%
148.53
FTSE 250
20,350.37
17:14 07/01/25
n/a
n/a
FTSE 350
4,537.45
17:14 07/01/25
n/a
n/a
FTSE All-Share
4,493.46
16:44 07/01/25
n/a
n/a
The placing represents around 1.8% of the existing share capital in the company.
Jefferies acted as sold global coordinator and sole bookrunner in connection with the placing, settlement of which is expected to take place on 2 September.
IG will not receive any proceeds from the placing.
Sosnoff and Sheridan were co-founders of US online brokerage and trading education platform Tastytrade, which was acquired by IG in 2021 for $1bn.