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Openmarkets acquires Cannon Trading and extends the increase ahead of the IPO

The Cannon acquisition is supported by a new $ 7.8 million injection of c -ital raised by OMG’s veteran investor clients and existing funders.

The round is positioned as an extension of the $ 10 million pre-listing increase completed in March.

But there’s a big difference between then and now – the company’s floating plans aren’t that set in stone anymore.

OMG’s Ivan Tchourilov, who took the reins in late 2019 and has since overtaken the company, said he was in talks with strategic investors – both locally and overseas – and if those talks go as hoped, the company will have all thoughts on Postpone an IPO at least in 2023.

“We are ready to go if need be … but there are many sources of income that are going to kick in in FY23 and they are difficult for them to include in the assessment.” [now],” he said.

Under Tchourilov’s leadership, the group has grown from 17 to over 100 employees, including former UBS Managing Director Michael Fagan, who has joined as a derivatives specialist, and the new Chief Product Officer, Klass Raajmakers, who comes from Nine’s streaming platform Stan.

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