{"id":104194,"date":"2021-01-07T09:10:31","date_gmt":"2021-01-07T09:10:31","guid":{"rendered":"https:\/\/fin2me.com\/?p=104194"},"modified":"2021-01-07T09:10:31","modified_gmt":"2021-01-07T09:10:31","slug":"inter-dealer-broker-tp-icap-sees-1-drop-in-annual-revenue","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/inter-dealer-broker-tp-icap-sees-1-drop-in-annual-revenue\/","title":{"rendered":"Inter-dealer broker TP ICAP sees 1% drop in annual revenue"},"content":{"rendered":"
(Reuters) – TP ICAP, the world\u2019s biggest inter-dealer broker, on Thursday forecast a 1% drop in full-year revenue and offered more details on a share issue to fund its previously announced acquisition of electronic trading network Liquidnet.<\/p>\n
The company said trading volumes remained subdued during much of the fourth quarter.<\/p>\n
TP ICAP said it expects the 2:5 fully underwritten rights issue to result in 225.3 million new ordinary shares at 140 pence per share, and raise about 315 million pounds ($427.83 million). bit.ly\/3pZlfma<\/p>\n
In October, TP ICAP agreed to buy Liquidnet for a revised price of between $575 million and $700 million to help its digital push and announced the rights issue to fund the purchase.<\/p>\n
($1 = 0.7363 pounds)<\/p>\n