Here you go.. Pepperstone, the rapidly expanding foreign...

Here you go..
Pepperstone, the rapidly expanding foreign exchange broker based in Melbourne, has delayed its debut on disallowed until the first half of next year as it aims to expand deeper into China in the wake of its exit from Japan.
The business, ranked as the 12th largest FX trader in the world, had initially targeted a float in the second half of this year.
However, the decision to retreat from Japan after it was unable to obtain the appropriate licence from the country’s regulator, along with the acquisition of a European trading platform and its continuing growth efforts in China, delayed the IPO.
The pullback from Japan also reduced Pepperstone’s projected market capitalisation from more than $600 million to about $500m.
Owen Kerr and Joe Davenport, the two founders — both in their early 30s — have racked multi-million dollar fortunes along with numerous awards over the past few years.

Pepperstone appointed UBS and Citi to execute the IPO, which like that of competitor OzForex, is expected to draw valuations of more than 20 times forecast profit.
Much of its appeal will stem from its rampant growth. China accounts for about 15 per cent of revenue but is projected to swell to 30 per cent by the end of 2015.
Pepperstone has also trained its guns on Europe with the purchase of a small trading platform.
The deal means the business will have a European sales force and should accelerate its expansion on the continent.
Yet while Pepperstone continues to eye the boards, it remains a potential takeover target and has attracted the attention in the past of larger players like IG Markets.