trending Market Intelligence /marketintelligence/en/news-insights/trending/xQszO5iegNCTxlfVE5OEnw2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

TP ICAP looking to incorporate new group holding company in Jersey

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive

South State CenterState MOE Shows Even The Strong Need Scale To Thrive

Talking Bank Stocks, Playing The M&A Trade With Longtime Investor

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible

TP ICAP looking to incorporate new group holding company in Jersey

TP Icap PLC plans to incorporate a new group holding company in Jersey through a court-approved scheme of arrangement, subject to approvals from shareholders and regulators, including the U.K. Financial Conduct Authority's consent.

However, the group's tax domicile and the location of its primary stock exchange listing will remain in the U.K.

The holding company — to be called New Topco — will trade on the premium segment of the London Stock Exchange's main market as is currently the case with TP ICAP. New Topco shares are also expected to be eligible for FTSE index inclusion.

TP ICAP shareholders will be able to exchange their existing ordinary shares in the company for shares in New Topco on a 1-for-1 basis.

The company's board expects the proposal to impact neither the group's credit ratings nor the location of employees at present. The proposal is aimed at achieving greater financial flexibility at the group, support its effective governance and improve its competitiveness, TP ICAP said.

The proposal is expected to take shape before the end of the first half of 2020, the company said, adding that it will disclose further details in due course.