UK spreadbetting firm CMC Markets valued at $1 billion in IPO

British financial spreadbetting firm CMC Markets has priced its London stock market listing at 240 pence a share, it said on Friday. The price would value the company, run by Chief Executive Peter Cruddas, at 691 million pounds. "Our performance since the start of 2016 continues to be strong, helped by the ongoing market volatility, and we start our life as a public company well-positioned for continued growth," Cruddas, who favours Britain leaving the European Union, said in a statement.