US-based electronic currency trading platform FX Alliance filed for an initial public offering (IPO) with the US Securities and Exchanges Commission on Monday. The IPO could reach up to $100m although the precise number of shares to be sold and their price is yet to be determined.
The largest single stockholder is venture capital firm Technology Crossover Ventures, which owns 28.1% of FX Alliance’s stock, having invested $77.5m in July 2006. Ten banking groups or financial services firms own stakes of 5.1% each either independently or through their corporate venturing divisions.
Of those stakeholders, J.P. Morgan Securities, Goldman, Sachs, Citigroup, and Bank of America Merrill Lynch will be acting as joint book-running managers for the IPO.
The filing also showed a revenue of $57m for FX Alliance in the six months leading up to June 30, up from $49.7m the year before.