IG Group Holdings Plc (LON:IGG) has issued an update on the strategic review announced on 19 March 2026, including a proposal to establish a new Group holding company and a refreshed organisational model, together with a trading update for the half year ended 30 June 2026 ahead of interim results scheduled for 31 July 2026.
New holding company
As part of the strategic review, IG today announces a proposal to establish a new Group holding company, incorporated in Jersey, subject to shareholder and regulatory approval.
The new structure will give the Group greater financial and strategic flexibility and better reflect its international footprint, with around two-thirds of revenue now generated outside the UK. It will not change IGÕs listing, tax residence or London operations:
- the Group’s shares will remain listed on the London Stock Exchange, with continued eligibility for existing index inclusion;
- the Group will remain UK tax resident, with no change to its effective tax rate as a result of the reorganisation; and
- the Group’s London presence and employees will be unaffected.
The proposal will be implemented by way of a Court-approved scheme of arrangement (the “Scheme”) under the Companies Act 2006. Pursuant to the Scheme, shareholders will exchange their ordinary shares in IG Group Holdings plc for new ordinary shares in New HoldCo on a one-for-one basis. IG Group Holdings plc will become a sub-group of New HoldCo and remain the head of the FCA-supervised regulatory group. A shareholder circular setting out the timetable is expected to be published in Q3 2026.
It is currently anticipated that, subject to receipt of the necessary approvals (including from the FCA and certain other international financial regulators), the Scheme will become effective in Q4 2026.
Organisational model
Also as an output of the strategic review, IG is streamlining its operating model to serve customers better, bring products to market faster and improve efficiency. Three of its regional commercial divisions – UK & Ireland, Europe, and APAC & Middle East – will be combined into a single commercial business unit, led by Michael Healy, who will become CEO, IG Consumer. Customer-facing technology teams, operations and Independent Reserve will move into this new division, alongside Freetrade. North America and Institutional will continue as separate business units, led respectively by Michael Vaughan, who retains his role as CEO, IG North America, and Andy Biggs, who becomes CEO, IG Securities. The changes will take effect in H2 2026; the Group’s reporting format and geographic disclosure are unchanged for H1 2026.
H1 2026 trading update
The Group expects to report H1 2026 total revenue of approximately £643 million, up around 18% on the prior year, and organic total revenue of approximately £624 million, up around 16%1. First trades increased approximately 107% on a reported basis and 74% organically, and active customers increased approximately 66% on a reported basis and 13% organically, in each case on the prior year.
Guidance
The Group continued to trade well in Q2 2026 and expects full-year results in line with market expectations. The Board reiterates its 2026 guidance, upgraded on 19 May 2026: organic total revenue, excluding Freetrade and Independent Reserve, is expected to grow 10-15% year-on-year from the 2025 base of approximately £1,100 million, with EBITDA margins in a mid-40s per cent range and net interest income of £110-120 million. Beyond 2026, the Board remains confident the Group can compound organic total revenue at least 10% per annum on the 2025 base, with EBITDA margins sustained in a mid-40s per cent range.
Alongside the new holding company and organisational model, the strategic review is evaluating other routes to maximise shareholder value, including acquisitions to accelerate growth, the Group’s listing venues, and potential combinations of parts of the Group with other industry participants. As previously announced, its outcomes will be set out at a Strategy Update in autumn 2026.
Next scheduled update
IG will report H1 2026 results on 31 July 2026.
1. Total revenue up 17% on an organic, continuing operations basis
