IG Group Holdings CEO
Breon Corcoran purchased 70,000 ordinary shares for approximately £661,913
across two transactions last Friday and yesterday, according to a regulatory
filing published today (Tuesday).
London’s trading industry is coming home!
The purchases follow a
sharp fall in IG’s share price earlier this month. Finance
Magnates reported on 7 October that the shares fell by as much as 27% in
early trading on 2 October after the broker lowered its revenue growth outlook
for 2026.
Corcoran bought 30,000
shares last Friday at £9.45 each, paying £283,500. Yesterday, he bought a
further 40,000 shares at an average price of £9.460325, for approximately
£378,413. Both transactions were executed on the London Stock Exchange.
CFO Also Buys
Shares
Separately, IG Group
Chief Financial Officer Clifford Abrahams bought 10,000 ordinary shares last
Friday at £9.43991 each, paying £94,399.10. His transaction was also executed
on the London Stock Exchange and disclosed yesterday.
The two executives
bought a combined 80,000 ordinary shares for approximately £756,312. The
regulatory filings disclose the transaction dates, share volumes and prices but
do not state the reasons for the purchases.
IG Combines Trading
Services, Targets Prediction Markets
Beyond the share
purchases, IG has been expanding its product offering. In September, it
launched a mobile app combining investing and cryptocurrency accounts, with
plans to integrate spread betting and CFD trading.
In October, Corcoran
discussed IG’s planned $1.1 billion acquisition of US prediction markets
operator Underdog. He questioned the value of notional
trading volumes reported by prediction markets, arguing that net gaming
revenue provides a more meaningful measure of performance. Underdog reported
third-quarter net revenue of $105 million, up 118% year-on-year.
IG has also applied
for a UK
gambling licence to offer prediction markets on political, sporting and
entertainment events, with a launch targeted for early 2027, subject to
regulatory approval. The company plans to offer financial event contracts to
professional clients in the fourth quarter of 2026.
This article was written by Tareq Sikder at www.financemagnates.com.
