IG Group Proposes Jersey Holding Company as Half-Year Revenue Rises 18%

IG Group has asked shareholders to approve a plan that would place a new Jersey-incorporated holding company above its existing UK entity, a move the FTSE 100 trading platform says will provide more flexibility as it reviews its corporate structure and listing options.

The proposal was published Wednesday alongside a trading update for the six months to the end of June, in which IG put revenue at about £643 million, up roughly 18% year on year. Both initiatives are part of the strategic review launched in March, which remains under way and is expected to report in the autumn.

Under the scheme, IG Group Holdings would be owned by a new Jersey parent, with investors receiving one new share for each existing share through a court-approved arrangement. The plan requires approval from the Financial Conduct Authority and other regulators, and IG expects it to take effect in the fourth quarter of 2026, with a shareholder circular due in the third quarter.

The company stressed that the changes would not affect its London Stock Exchange listing or index membership, its UK tax residence or effective tax rate, or its London operations and employees. It argues the new structure better reflects a business that now generates roughly two-thirds of its revenue outside the UK.

IG stopped short of saying how it might use the flexibility. But the company has previously flagged possible changes to its listing venues and has been linked by Bloomberg with a potential move to New York. It also explicitly mentioned "combinations of parts of the Group with other industry participants" as an option.

The corporate moves come with an internal reorganisation. Three regional consumer arms covering the UK and Ireland, Europe, and Asia-Pacific and the Middle East will be merged into one division led by Michael Healy as CEO of IG Consumer. Customer-facing technology, operations, the recently acquired crypto exchange Independent Reserve and the neobroker Freetrade will sit in that unit. Michael Vaughan continues to run IG North America, while Andy Biggs becomes CEO of IG Securities for the rebranded institutional arm. The new structure takes effect in the second half of 2026.

The trading update showed that reported growth was inflated by acquisitions. First trades rose about 107% as reported but 74% organically, while active customer numbers were up 66% reported against 13% organically. IG reiterated its upgraded full-year guidance, including organic revenue growth of 10% to 15% excluding Freetrade and Independent Reserve, EBITDA margins in the mid-40s, and net interest income of £110 million to £120 million. Full interim results are due on 31 July.