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4h ago

IG Group to Buy 70% of Independent Reserve in A$178 Million Deal

IG targets a regulated APAC crypto entry through a staged deal pending MAS and FIRB approval.

Ig group buys majority stake in australian crypto exchange independent reserve for $72m
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The former cricketer Stuart Broad at Lord’s last year to promote IG Group, which is moving into cryptocurrency as bitcoin moves close to $117,000, up 950 per cent over five years

Overview

  • IG will pay A$109.6 million for an initial 70% stake, implying an enterprise value of A$178 million for Independent Reserve.
  • The terms include up to A$15 million contingent on FY26 performance and a call option to acquire the remaining 30% based on FY27–FY28 results.
  • Closing is targeted for early 2026 subject to clearances from Singapore’s Monetary Authority and Australia’s Foreign Investment Review Board.
  • Independent Reserve reported FY25 revenue of A$35.3 million and EBITDA of A$9.9 million, with 129,400 funded accounts and A$1.7 billion in assets under custody.
  • IG plans to retain the exchange’s leadership and brand to accelerate expansion in Australia and Singapore, and it projects earnings accretion from FY2027.