By bizn_fun 
A financial trading company which counts the former mining tycoon and erstwhile Conservative Party treasurer Sir Mick Davis among its board members is reviving plans for a £40m London stock market listing.
Sky News understands that Iforex Financial Trading Holdings, which sells financial instruments used to place wagers on the direction of equities and other asset classes, is in talks with investors about raising roughly £7m from the sale of new shares in an initial public offering (IPO).
City sources said the float, which will see Iforex list on the main London market, was likely to be announced around the end of this month.
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Iforex, which is headquartered in Cyprus, had hoped to make its public market debut last spring but delayed it because of what sources described as “a routine compliance inspection”.
Sir Mick, who oversaw the growth of Xstrata into one of the world’s largest mining companies, is among Iforex’s non-executive directors.
Denzil Jenkins, a former London Stock Exchange Group executive, is also on the company’s board.
Iforex, which does not yet have a UK licence but is expected to seek one in the coming months, is working with bankers at Shore Capital on its plan to go public.
The company also wants to expand in the Gulf, according to insiders.
While small, its arrival on the London market would be a welcome one for the LSE, with companies including the asset manager Schroders the subject of megabids, which will mean their London listing being scrapped.
A spokesman for Iforex declined to comment.