Aquis Exchange, a London-based challenger stock market, has agreed to be acquired by Switzerland’s Six Group.
- This acquisition, valued at £207m, results from a cash offer by Six Group, marking a significant return for Aquis shareholders.
- The agreed terms include a share price of 727p, offering a 120% premium over recent market values.
- Pending shareholder approval, the acquisition is scheduled to conclude around April 2025.
- Aquis will continue operating under its existing brand while contributing to Six Group’s pan-European initiatives.
In a strategic move, Aquis Exchange, established in London in 2012, has consented to an acquisition by the Switzerland-based Six Group. Announced recently, the terms entail a cash offer from Six Group, valuing Aquis at £207 million. This represents a substantial premium for Aquis shareholders as shares were previously trading at 340p each.
Under the proposed terms, shareholders will receive 727p per share, reflecting a notable 120% increase from recent trading prices. This transaction positions Aquis near the highest share value observed since its public listing, enhancing shareholder returns.
Aquis has been a pioneer in creating a technology-driven stock exchange platform, aiming to extend investment opportunities to small and medium-sized enterprises. The integration with Six Group promises to bolster Aquis’s capabilities while maintaining its operational independence and business model.
The merger aligns with Six Group’s vision to develop a comprehensive pan-European exchange. According to Bjørn Sibbern, Six’s global head of exchanges, the collaboration is expected to enhance both companies’ offerings in the capital markets sector, particularly by merging Aquis’s innovative services with Six’s established primary exchange and data operations.
Aquis, under the new ownership, is anticipated to advance its growth while preserving its entrepreneurial ethos, as expressed by its founder and CEO, Alasdair Haynes. Haynes highlighted the ongoing commitment to technology-led innovation and acknowledged the role of dedicated personnel in building Aquis’ success since its inception as a subscription-based stock exchange.
The acquisition remains contingent on shareholder consent, which is projected to be reviewed during the next Aquis annual general meeting scheduled for April 2025. The transition promises to open new avenues for competition within the European financial markets.
The merger between Aquis and Six Group marks a significant milestone in European stock exchange operations, pending shareholder approval.
