IG Group Holdings plc, a leading global provider of online trading and investment services, has announced the launch of the second tranche of its share buyback program. The program, originally announced in July 2024, aims to reduce the company’s share capital and enhance shareholder value. UBS AG London Branch has been appointed to execute the second phase of the buyback.

The second tranche will have a maximum market value of £75 million and is set to begin on 25 September 2024. IG Group anticipates that this phase will be completed by 31 January 2025. The shares acquired through the buyback will be held in treasury, ensuring flexibility for the company in future strategic initiatives, including employee share schemes or further capital management strategies.

This share buyback program is part of a broader capital management plan aimed at improving IG Group's financial structure and returning value to shareholders. The company has emphasized that the sole purpose of the buyback is to reduce the total number of shares in circulation, thereby increasing the earnings per share for its existing shareholders.

The program operates under the authority granted to the Board of IG Group during its annual general meeting, held on 18 September 2024. At this meeting, shareholders approved the continuation of the buyback initiative, with a maximum of 36,934,031 shares remaining available for repurchase in the second tranche. The total number of shares repurchased will not exceed this limit, ensuring the company remains within the approved parameters of the program.

The share buyback initiative demonstrates IG Group’s strong financial position and commitment to delivering long-term value to its shareholders. By reducing its share capital, the company seeks to optimize its capital structure and boost investor confidence.

IG Group remains focused on expanding its market presence and maintaining its leadership in the online trading and investment sector. With the second tranche of the buyback program underway, the company continues to prioritize both shareholder returns and its overall financial health.

The completion of this program is expected to further enhance IG Group’s standing in the market, reflecting the company’s ongoing commitment to responsible capital management and strategic growth.