Electronic trading firm IG Group Holdings plc (LON: IGG) has announced plans to establish a new Group holding company (“New HoldCo”) incorporated in Jersey, subject to shareholder and regulatory approval.
The proposed restructuring is intended to provide the Group with greater financial and strategic flexibility while better reflecting its increasingly international business, with approximately two-thirds of its revenue now generated outside the UK. The reorganisation will not affect IG’s stock market listing, tax residency, or London operations.
Under the proposal:
- The Group’s shares will continue to be listed on the London Stock Exchange and remain eligible for inclusion in existing market indices.
- The Group will continue to be tax resident in the UK, with no change to its effective tax rate as a result of the restructuring.
- The Group’s London operations and workforce will remain unchanged.
The restructuring will be implemented through a Court-approved scheme of arrangement (the “Scheme”) under the Companies Act 2006. Upon completion of the Scheme, shareholders will exchange their existing ordinary shares in IG Group Holdings plc for ordinary shares in New HoldCo on a one-for-one basis. IG Group Holdings plc will become a subsidiary of New HoldCo while remaining the parent company of the FCA-supervised regulatory group.
A shareholder circular outlining the proposed timetable is expected to be published in the third quarter of 2026. Subject to shareholder approval and the receipt of all necessary regulatory clearances, including approvals from the FCA and certain international financial regulators, the Scheme is expected to become effective during the fourth quarter of 2026.
In parallel, IG is simplifying its operating model to enhance customer service, accelerate product development, and improve operational efficiency. The Group’s three regional commercial divisions—UK & Ireland, Europe, and APAC & Middle East—will be consolidated into a single commercial business unit led by Michael Healy, who will assume the role of CEO of IG Consumer.
Customer-facing technology teams, operations, Independent Reserve, and Freetrade will also be integrated into the new division. Meanwhile, the North America and Institutional businesses will continue to operate as separate business units. Michael Vaughan will remain CEO of IG North America, while Andy Biggs will assume the position of CEO of IG Securities.
These organisational changes will take effect during the second half of 2026. The Group’s reporting structure and geographic disclosures for the first half of 2026 will remain unchanged.
For the first half of 2026, IG expects to report total revenue of approximately £643 million, representing an increase of around 18% year-on-year. Organic total revenue is expected to reach approximately £624 million, up around 16%. First trades increased by approximately 107% on a reported basis and 74% organically, while active customers grew by around 66% on a reported basis and 13% organically compared with the same period last year.
The Group continued to deliver solid trading performance during the second quarter of 2026 and expects full-year results to be in line with market expectations. The Board has reaffirmed the guidance it upgraded on 19 May 2026. Organic total revenue, excluding Freetrade and Independent Reserve, is expected to increase by 10–15% year-on-year from the 2025 base of approximately £1.1 billion. EBITDA margins are projected to remain in the mid-40% range, while net interest income is expected to be between £110 million and £120 million.
Looking beyond 2026, the Board remains confident that the Group can achieve annual organic revenue growth of at least 10% from the 2025 base while sustaining EBITDA margins in the mid-40% range.
Alongside the proposed holding company structure and organisational changes, the Group’s strategic review continues to assess additional opportunities to maximise shareholder value. These include potential acquisitions to accelerate growth, a review of the Group’s listing venues, and possible combinations of parts of the business with other industry participants.
IG is scheduled to release its H1 2026 financial results on 31 July 2026.