IG Group (LSE:
IGG) has begun the first tranche of a new £125 million share buyback program,
with Morgan Stanley & Co. International Plc appointed to execute purchases
under pre-set parameters, the company disclosed in today’s (Wednesday) regulatory
filing.
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The program,
first announced alongside a positive
first-quarter revenue update on 19 March, is divided into two tranches of up to £62.5
million each. The first tranche runs from Wednesday and is expected to close by
30 September 2026. IG Group said a separate announcement will be made ahead of
the second tranche, subject to share price performance and other capital
demands.
Treasury Shares and AGM
Limits
Wednesday’s
launch extends a string of capital return programs the company has run in
recent years. IG’s previous initiative, a £200 million buyback assembled in two
stages, included a £75 million
extension announced in December 2025, bringing that program to its final tranche
before completion.
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The company
had flagged plans for the current £125 million initiative in its full-year
fiscal 2025 results,
published in July 2025, when the board said it intended to launch the
repurchase during the current financial year’s first half.
All
purchased shares will move into treasury, and IG Group stated the program’s
sole purpose is to reduce share capital. The buyback runs within the authority
approved at the company’s annual general meeting on 17 September 2025, under
which a maximum of 36,155,787 shares remain available for repurchase.
Barron Takes the Chair
The buyback
launch coincided with a governance transition at the top of the company. Andrew
Barron formally assumed the position of Board Chairman and Chairman of the
Nomination Committee on Wednesday, after the Financial Conduct Authority
granted its approval of the appointment, IG Group said in a separate filing
dated 31 March.
Barron was
first named as Chair Designate and Non-Executive Director in early March, with the FCA’s sign-off remaining
the final step before he could formally take over. Mike McTighe, who has
chaired IG Group’s board through a period of active capital returns and
restructuring, stepped down from both the chair and the board entirely as of
Wednesday.
Barron’s
arrival comes at a moment when the company is weighing bigger structural
decisions. A report published in March indicated that IG Group is reviewing a
possible shift of its primary listing from London to New York, as it looks to deepen its presence
in the US market, where its tastytrade brand operates.
This article was written by Damian Chmiel at www.financemagnates.com.
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