Peter Cruddas eyes new flotation date for CMC
11 April 2012
Peter Cruddas, the rags-to-riches City entrepreneur who built up online trading giant CMC, today said that he may attempt to float his business on the stock market again.
Hackney-born Cruddas came close to listing the spread-betting group in 2006 but famously pulled the share offer just hours before it was set to launch as the FTSE 250 index fell sharply. A year later, Goldman Sachs bought a 10% stake for £140 million.
Cruddas, chairman of the group, today told Reuters that he could consider another IPO attempt "in the next two years".
Recent trading for CMC has been tough in the UK although its Asian and Australian businesses were doing well.
