Changes at IG Index

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montmorencyt2w

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I received an email saying that they were changing their terms and conditions.

Almost in passing they also added that they were changing from a PLC to a private company, limited by shares. That seemed like a fairly major change to me.

Does anyone know the background to this? Are they having problems?
 
montmorencyt2w said:
Almost in passing they also added that they were changing from a PLC to a private company, limited by shares. That seemed like a fairly major change to me.

Does anyone know the background to this? Are they having problems?
Click to expand...

I G Group is listed on the stock exchange.

I G Index is a subsiduary of IG Group, i doubt whether I G Index being a PLC or a Ltd make much difference either way as it will still be owned by IG Group.
 
sure....this looks like a sneeky divestiture....this cannot be seen as a positive for their trader clients....
 
so...apparently client money is no longer safe with IG INDEX LTD....

Everybody should go ahead and read their new terms & conditions.....

Will be looking elsewhere to place my funds.....
 
midtermtrader said:
so...apparently client money is no longer safe with IG INDEX LTD....

Everybody should go ahead and read their new terms & conditions.....

Will be looking elsewhere to place my funds.....
Click to expand...
from where u get that idea ?!
 
donaldduke said:
I G Group is listed on the stock exchange.

I G Index is a subsiduary of IG Group, i doubt whether I G Index being a PLC or a Ltd make much difference either way as it will still be owned by IG Group.
Click to expand...

If it doesn't make much difference either way, why have they bothered to do this then?
 
Most PLCs make any subsidiaries separate limited companies. It is also possible that they wish to diversify and as such want to distinguish different parts of the business.


Paul
 
Trader333 said:
Most PLCs make any subsidiaries separate limited companies. It is also possible that they wish to diversify and as such want to distinguish different parts of the business.


Paul
Click to expand...


It was already a separate (public) limited company. The change being made is to change the registration from public to private. What is the likely reason for this?

I would have thought that a change of status in this regard, is a big deal for a company, one way or another, in either direction.
 
Main reason I can think of is the control of the issuance of shares rather than the shares being publicly tradeable. Probably had an offer for a large stake or someone was trying to but them up. Who knows?
 
Last edited:
There are several regulatory differences between a ltd and a non exchange listed plc, which is what IG Index PLC is/was.

IG Group Plc is listed on the LSE, and will continue to be a plc unless someone buys all the shares up and takes it private.

Its only the subsiduary that has changed status, it shouldnt effect clients at all. They probably changed status to cut through a bit of red tape that wasnt required anymore.
 
The only change i noticed was the mimum deposit - its about 2.5 - 3 times what its used to be. Oh well time to cancel my account. :LOL:
 
teewoods said:
The only change i noticed was the mimum deposit - its about 2.5 - 3 times what its used to be. Oh well time to cancel my account. :LOL:
Click to expand...

i can deposit 1 $ from my credit card , what r u talking about ?!
 
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