FX news: FXCM IPO goes well
The first retail FX IPO since before the credit crisis looks to have gone well.
FXCM's initial public offering of 15,060,000 shares priced at $14 per share when they began trading yesterday, December 2, on the New York Stock Exchange. The shares closed up 6% at $14.85 having hit a high at one point of $15.34.
It looks like FXCM’s successful offering has emboldened rival Gain Capital to follow suit. Gain registered with the SEC to make a public offering more than a year ago. Reuters has reported that the company has made an amended filing.