Pepperstone Financial — Australia’s largest foreign exchange broker — is considering its own public listing, after shares in competitor OzForex rose more than 20% in their first few days on the market.
“It really has given us a lot to think about in terms of [a] possible IPO for Pepperstone,” chief executive and co-founder Owen Kerr said in an email.
“At this stage we are still evaluating our options and the potential things we would need to do to take the company public.”
The company is the largest currency exchange in Australia and in the top-ten globally. It handles approximately $US71 billion worth of trades each month, for around 25,000 clients.
“OzForex has really amazed, rallying an extra 23% on debut and another 3% today,” Kerr said.
Last month Business Insider reported Pepperstone would be following the OzForex listing closely, as it decides when and in what market to take itself public.
While investment banks are eager to take the company through a float, Kerr said he and fellow co-founder Joe Davenport already have an informal agreement with a “New York-based” outfit, which he declined to identify as the information is private.
Read our original report here.
Now read: Australia’s Largest FX Brokerage Pepperstone Will Be Watching OzForex To Decide When And Where To List: CEO
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