Le Roux to trouser £8m from IG float

Nat Le Roux, the chief executive of IG Group, could pocket more than £8m when the spread-betting firm floats for more than £400m on the stock market later this month.

According to the company’s prospectus, Le Roux is expected to sell more than 5m shares from his current stake of 20.16m, or 9.3 per cent of the spread-betting group, depending on demand. This disposal would be worth £7m if the shares are sold at 139p – the top of the float price range.

However, Le Roux will also receive a further £1.32m for preference shares that are being redeemed. Le Roux’s remaining stake, which could be diluted to 4.7 per cent after the flotation, could be worth £21m. He was paid £573,000 in salary and bonuses in the year to May 2004.

Tim Howkins, the finance director, and Peter Hetherington, the chief operating officer, could each receive more than £2.6m by selling shares. Overall, IG staff hold about 26 per cent of the business.

Rob Lucas, the non-executive director who is also a director of CVC, the private equity firm that bought IG Group for £143m in 2003, could make a £113,265 profit by selling shares.

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