Aquis Exchange, a UK-based stock market challenger, will be acquired by Swiss Six Group for £207 million.
- The acquisition, set at 727p per share, marks a 120% premium over Aquis’s recent trading price of 340p.
- This strategic move aims to integrate Aquis’s innovative platform with Six Group’s established services.
- Shareholder approval is pending, with discussions expected at the Aquis AGM in April 2025.
- Aquis’s founder, Alasdair Haynes, expresses enthusiasm for the growth opportunities this merger represents.
London’s prominent challenger stock exchange, Aquis, has entered into an agreement to be acquired by Switzerland’s Six Group for a substantial sum of £207 million. This decision, announced via a regulatory filing, involves a cash offer of 727p per share, significantly higher than its recent market price of 340p. This 120% premium indicates the high value attributed to Aquis by the acquiring company.
Monday trading saw Aquis shares rise dramatically to 700p, reflecting market optimism about the acquisition. Historically, the highest valuation of Aquis shares was 720p during 2021, just after its initial public offering in 2018. The proposed merger suggests promising returns for shareholders and aligns with Six Group’s strategy to enhance its market offerings.
Bjørn Sibbern, Six’s global head of exchanges, stated that merging with Aquis presents a compelling opportunity to fuse technological capabilities and market innovation. He highlighted that Aquis will retain its brand and business model, contributing to Six’s vision of becoming a pan-European exchange leader. This alignment promises to enrich Six’s primary exchange and data business, bolstering their growth strategies.
The completion of this acquisition is contingent upon shareholder approval, which will be sought at Aquis’s annual general meeting slated for April 2025. Founder and CEO of Aquis, Alasdair Haynes, voiced his pride in Aquis’s achievements, attributing success to technological innovation and dedicated personnel. Haynes sees the partnership with Six as a chance to accelerate growth while maintaining Aquis’s entrepreneurial spirit.
Founded in 2012, Aquis has become known for its tech-driven approach to stock exchanges, focusing on enabling easier access for SMEs. The firm’s innovative methods have fostered more efficient market environments, paving the way for contemporary economic advancements. This acquisition is anticipated to further enhance Aquis’s growth trajectory within a broader European framework.
The acquisition of Aquis by Six Group represents a significant step towards strengthening European exchange markets through strategic innovation and collaboration.
