Aquis Exchange in London is set for acquisition by Switzerland’s Six Group with substantial benefits for shareholders.
- The agreed purchase price values Aquis Exchange at £207 million, marking a significant return for its investors.
- Aquis shares soared to 700p at the market’s opening on Monday, a dramatic rise from 340p just days before.
- The proposed acquisition is a strategic move to enhance capital markets innovation across Europe.
- Stakeholders must approve the acquisition at the forthcoming Aquis annual general meeting in 2025.
In a strategic move to bolster its capabilities in capital markets innovation, Switzerland’s Six Group has agreed to acquire London-based Aquis Exchange. The acquisition, announced in a regulatory filing, reflects a valuation of £207 million for Aquis Exchange. This acquisition is set to deliver a substantial return to Aquis shareholders, with Six Group offering 727p per share. At this valuation, shareholders will receive a 120% increase from the closing price of 340p per share recorded last Friday.
Upon the announcement, Aquis shares experienced a significant leap, reaching 700p as the London market opened on Monday. This represents one of the highest trading points for Aquis since its initial public offering in 2018, where the highest previously recorded was 720p in 2021. Such a premium rating showcases Six Group’s commitment to integrating Aquis’ offerings into its suite of services.
Bjørn Sibbern, global head of exchanges at Six Group, emphasised the complementary nature of the acquisition, stating, “We believe that combining Aquis with SIX’s platform is a compelling opportunity to bring together two businesses with a shared commitment to capital markets innovation.” He further highlighted that Aquis will keep its established brand and operating model while contributing to Six’s objectives of becoming a “pan-European Exchange Innovator.”
Founded in 2012 by Alasdair Haynes, Aquis Exchange aims to revolutionise investment by making it more accessible to small and medium-sized enterprises through its technology-driven approach. Haynes expressed pride in Aquis’ growth over the past 12 years and expressed optimism about its future under Six’s ownership. He remarked on the potential to accelerate business development and enhance competition in the European market while maintaining its entrepreneurial spirit.
For the acquisition to move forward, Aquis shareholders need to give their acceptance during the annual general meeting, anticipated to be held around April 2025. This step is crucial for the deal’s completion and signals a new era for Aquis as part of the larger Six Group ecosystem.
The acquisition of Aquis by Six Group represents a significant shift in the European capital markets landscape, pending shareholder approval.
