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TP ICAP Group PLC has registered its Parameta Solutions arm as a separate company, in a move which could pave the way for a sale or a float of the data unit, the Financial Times reported Saturday. The FT, citing people with knowledge of the matter, reported that Parameta was registered last month as a standalone company. The FT noted TP ICAP has faced investor pressure to sell the unit, in a bid to lift the interdealer broker’s share price. TP ICAP shares closed down 1.5% at 188.20 pence each in London on Friday. The stock is up 1.6% over the past 12 months, but has shrunk around 50% since the onset of the pandemic. It has a market capitalisation of £1.45 billion. Citing one investor, the FT reported that Parameta could generate £1.5 billion in an initial public offering. A listing is the ‘most likely’ outcome for the unit, the newspaper reported. https://www.ft.com/content/ecbf17f6-a083-4884-bc28-83a84dff0275 Copyright 2024 Alliance News Ltd. All Rights Reserved.
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