IG Group and tastytrade Complete $1 Billion Partnership
IG Group Holdings plc ("IG", the Group, the Company), a global leader in online trading and tastytrade, Inc. (tastytrade), the fast-growing online brokerage and investor education platform, are pleased to announce the completion of a $1 billion landmark partnership.
- IG Group Holdings plc ("IG", the Group, the Company), a global leader in online trading and tastytrade, Inc. (tastytrade), the fast-growing online brokerage and investor education platform, are pleased to announce the completion of a $1 billion landmark partnership.
- The transaction is made up of $300 million in cash and the issuance of 61,000,000 new ordinary shares in IG Group (the Consideration Shares) to tastytrade shareholders.
- Key tastytrade management shareholders, comprising Tom Sosnoff (Co-CEO, tastytrade), Kristi Ross (Co-CEO and President, tastytrade), Scott Sheridan (CEO, tastyworks) and Linwood Ma (CTO, tastytrade), have joined the IG senior leadership team and will continue in their current roles to help drive further growth in tastytrade, and will collectively own approximately 5.7% of the enlarged share capital of IG.
- Kristi Ross, co-Founder and co-CEO of tastytrade, said, The synergies between tastytrade and IG are clear.