WorldSpreads set for 20 mln stg IPO

LONDON (Thomson Financial) – WorldSpreads Group, the UK financial spread betting firm, is set to float on AIM in a 20 mln stg IPO, the Sunday Express says without citing sources.

The paper said the move is to raise funds to wipe out WorldSpreads’ existing debts, including a 2 mln stg loan taken out from Allied Irish Banks, and charged at 10 pct above the euro interbank offered rate.

Tags: worldspreads

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