Spread betting and CFD provider London Capital Group (LCG) has announced that it intends to raise up to £17.5m through a proposed financing, following which Charles-Henri Sabet will take over as executive chairman of the company.

The financing will comprise between £12.5m and £15.0m from investment company GLIO Holdings Limited, which is chaired by Sabet, who is a leading investor in online trading platforms. Institutional investors will also contribute between £0.5m and £2.5m.

“This is an exciting development for the London Capital Group,” said CEO Kevin Ashby.

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