IG Group LON: IGG said its proposed acquisition of U.S. sports gaming company Underdog would expand its exposure to prediction markets, daily fantasy sports and related products, while increasing the group's U.S. revenue contribution and customer base.
IG Group Holdings plc (IGGHY) Shareholder/Analyst Call Transcript
The investment platform said in an unscheduled trading update that it expects third-quarter revenue to fall 14%.
IG Group Holdings plc (IGGHY) M&A Call Prepared Remarks Transcript
IG Group LON: IGG said it has agreed to acquire U.S. daily fantasy sports and prediction markets operator Underdog in a transaction designed to expand its presence in the U.S. consumer finance market and add a younger, mobile-focused customer base.
The online-trading company raised its guidance following a strong start to the year, pushing its stock 11% higher to lead the FTSE 100 risers.
IG Group share price has gone parabolic and hit its all-time high after the company published strong financial results and boosted its forward guidance. It soared to a record high of 1,717p, becoming the best performing company in the FTSE 100 Index.