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Foreign exchange broker FXCM sets IPO terms

November 15, 2010

FXCM, which offers online foreign exchange trading services to over 165,000 retail and institutional customers, announced terms for its IPO on Monday. The New York, NY-based company plans to raise $211 million by offering 15.1 million Class A shares at a price range of $13-$15. At the mid-point of the proposed range, FXCM will command a market value of $1.1 billion. FXCM, which was founded in 2010 and booked $325 million in sales for the 12 months ended June 30, plans to list on the NYSE under the symbol FXCM. Credit Suisse, J.P. Morgan and Citi are the lead underwriters on the deal, which is expected to price during the week of November 29.