London Stock Exchange welcomes Alpha FX Group plc to AIM
Corporate foreign exchange specialist Alpha FX Group plc today opened the market of the London Stock Exchange with a market cap of £64.2 million, after successfully raising £30 million from a cohort of high quality institutional investors.
Incorporated in 2010 by Morgan Tillbrook (Chief Executive Officer), the Company has grown rapidly since inception by providing currency risk management services to corporates and institutions trading internationally. The new funds raised will enable the Company to continue servicing its growing client base, as well as expanding into new markets, both within the UK and overseas.
Sitting alongside Mr. Tillbrook on the board is Chief Financial Officer, Tim Kidd. Mr Kidd has extensive financial services experience, including as EMEA CFO of FTSE listed ICAP plc. Also on the Board are independent non-executive directors Clive Kahn and Lisa Gordon. Mr Kahn was formerly CEO of global foreign exchange provider Travelex, before leading the sale of the business for an enterprise value in excess of £1 billion in 2004, and Ms Gordon has over 23 years’ Board level experience including as founding Director of Local World plc, which after less than three years was acquired by Trinity Mirror plc in 2015 for over £220 million, creating total shareholder returns in excess of 325%.
Speaking on the occasion, Mr Tillbrook said:
“It is a privilege to be joining AIM today, and I would like to first and foremost thank the team and clients that have got us to this point. This is a key step in our Company’s journey, and we now have the opportunity to significantly increase our impact in an industry we feel is too often poorly served when it comes to the issue of managing exchange rate risk sensibly and effectively.”
Adding to Mr Tillbrook’s comments, Mr Kahn said:
“Alpha have developed a differentiated full service offering in a commoditised market that has resulted in fast growth underpinned by strong client retention. Their full service approach addresses a problem for businesses that most have overlooked in the rush to be the cheapest or most efficient – how to control the impact currency volatility has on their business.”