AvaTrade has chosen investment banks JPMorgan and Jeffries to lead the IPO, which may be valued between £500 million and £700 million.
Anonymous sources report that while the Dublin-based brokerage firm is looking to launch its offering within the upcoming months, the precise timing and valuation will be subject to market conditions and developments.
AvaTrade has the option of applying for a listing on the Alternative Investment Market (AIM), a sub-market of the LSE which is more geared to smaller firms. AIM is intended to make it easier for those companies to obtain access to capital from the public market, and thus provides a more moderate regulatory environment than the LSE proper.
The IPO would enable AvaTrade to take its place among the largest public UK brokerage houses, such as Plus500, CMC Markets and IG Group.