Plus500, an FX broker, announced today that it will be applying to move its ordinary shares to trade on the London Stock Exchange’s (LSE) main market for listed securities. The move means the firm will soon be canceling trading of its shares on the alternative investment market (AIM), a sub-market of the LSE.

Liberum Capital Limited is sponsoring Plus500’s efforts to join the main market. The boutique investment bank to the broker when it joined the AIM in 2013, helping it to raise $75 million.

Growth, growth and more growth

The broker provided a plethora of reasons justifying its move to the LSE’s main market. The company noted that the main market is more suited to its efforts to grow and will put it in a better position to raise its profile and status.

Beyond stand-alone growth, the firm also noted that listing on the main market could see its ordinary shares becoming a better currency with which to acquire other companies. It added that this could also mean the firm will have more diversified sources of funding that will aid and abet its growth.

Providing a benchmark as to how much it wants to grow, the broker noted that its inclusion on the LSE main market could mean they will be included in the Financial Times Stock Exchange’s indices.

Commenting on the application, Plus500 CEO, , said: “We believe that the listing and our shares being traded on the Main Market will provide a number of benefits for shareholders, including increasing the Company’s profile and status, providing currency for growth and facilitating potential inclusion in FTSE indices. Together these developments are expected to enhance the liquidity of the Company’s shares and provide a greater range of potential investors for the Company both in the UK and overseas, reflecting the global nature of its business.”