The following IPO is expected to price this week:
FXCM (FXCM), which offers online currency trading brokerage to over 175,000 mostly retail customers, plans to raise $211 million by offering 15.1 million 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 1999, booked $325 million in sales for the 12 months ended June 30. The New York, NY-based company plans to list on the NYSE under the symbol FXCM. Credit Suisse, J.P. Morgan and Citi are the lead underwriters on the deal.
Last week, there were 5 IPO pricings. Anacor Pharmaceuticals (ANAC), which is developing treatments for nail fungus and psoriasis using boron-based chemistry, was the week's winner, ending up 2% from its IPO price.
