Do not invest more money than you can afford to lose.
The UK forex broker and spreadbetting company CMC Markets (LON:CMCX) has appointed as its joint corporate brokers the US multinational investment banking firm Goldman Sachs and the investment bank RBC Capital Markets, part of the Royal Bank of Canada, shows an announcement on the London Stock Exchange (LSE) website.
The corporate broker acts as an interface with the stock market, analyzes the market conditions and the demand for a company’s shares and actively promoting them to potential investors.
Goldman Sachs has been a partner in CMC Markets since 2007, when it bought a 10% share in the broker for $140 million. It also took active participation in the floating of CMC Markets on the LSE in February this year. Back then the company offered 90.6 million ordinary shares, or 31% of its issue share capital, at a price of nearly 218 million GBP. The company was valued at 691 million GBP. With the listing CMC increased its capital by nearly 15 million GBP, while the remaining approximately 203 million pounds comprise sale of secondary shares by current CMC shareholders.
A month after the initial public listing CMC Markets has a market capitalization of GBP 675.18 million, losing 2.3% of its value in a month. On March 10 the market closed at GBP 2.42 per share.
CMC Markets offers forex trading in more than 330 currency pairs and CFDs on oil, copper and agricultural products. It is regulated by UK’s financial watchdog FCA.
