Get Custom Quotes, Info & More from Multiple Providers At Once.
LiquidityFinder
September 15, 2022

Saxo Bank Explores Potential Of Listing On Euronext Amsterdam

September 15, 2022 - Saxo Bank and Disruptive Capital Acquisition Company Limited (DCAC) have confirmed their intent to explore a listing of Saxo Bank on Euronext Amsterdam in connection with a business combination with DCAC.

Saxo Bank has stated that as it is well capitalised, there will be no primary issue of shares by Saxo Bank. The proposed Business Combination would comprise a secondary sale of existing Saxo Bank shares to DCAC for distribution to DCAC's shareholders; and the subsequent delisting and liquidation of DCAC, with Saxo being the ongoing Euronext listed entity.

DCAC is soliciting interest from its existing shareholders and other investors in the secondary offer.

The purpose of the potential listing of Saxo Bank is to diversify its shareholder base, raise its profile and so further accelerate its growth strategy.

Saxo Bank shareholders Geely Financials Denmark A/S and Sampo Plc intend to sell a limited proportion of their shareholding. Certain members of Saxo Bank’s board and senior management team, including its founder and CEO Kim Fournais, intend to acquire additional shares alongside DCAC, should the Business Combination proceed.

The potential transaction values the outstanding shares of Saxo Bank (before the Business Combination) at a pro forma aggregate amount of at least €2 billion.

No binding agreement has been entered into, and there can be no assurance that a Business Combination nor listing of Saxo Bank shares will be achieved.

Kim Fournais, CEO & Founder, Saxo Bank, commented, “We have a strong ownership, which we hope to strengthen and diversify even further, with full confidence that Saxo Bank is heading in the right strategic direction. We are building a prudent financial institution that is part of the solutions needed in the future – and we remain committed to delivering on our ambitious growth strategy. With this, I am proud to invite new shareholders into Saxo and the exciting growth journey ahead of us.”

DCAC co-founder, Edi Truell, commented, “We are thrilled to have identified Saxo Bank as a high quality financial services combination for DCAC shareholders. We look forward to bringing our shareholders aboard on Saxo’s exciting journey, which we believe should provide a very attractive investment”

JP Morgan is acting as placement agent in connection with the proposed Business Combination.

Disruptive Capital Acquisition Company (ticker DCACS and DCACW) is a special purpose acquisition company listed on Euronext Amsterdam, which successfully raised GBP 125 million of proceeds in October 2021. It is sponsored by a high-quality team which has a long and successful track record in European financial services.

DCAC was formed to combine with a high quality European financial services business which would benefit from the sponsor team’s network, expertise and a public listing.

It should be noted that Kari Stadigh is an indirect shareholder of, and Senior Adviser to, DCAC. He is also Chair of Saxo Bank Group.

Require Some Guidance in Finding The Right Provider?

Let One of Our Experts Help!

Use the LiquidityFinder Match Matrix to find the right provider for your electrionic trading business!

Get Started

LiquidityFinder

LiquidityFinder was created to take the friction out of the process of sourcing Business to Business (B2B) liquidity; to become the central reference point for liquidity in OTC electronic markets, and the means to access them. Our mission is to provide streamlined modern solutions and share valuable insight and knowledge that benefit our users.

If you would like to contribute to our website or wish to contact us, please click here or you can email us directly at press@liquidityfinder.com.

Be First To Comment.
Featured News on LiquidityFinder
Latest News on LiquidityFinder

To personalize content, provide a optimal experience, tailor and measure engagement; the browsing, navigating and the continous use of this website means you agree to the Terms of Service, Privacy Policy & Security Policy of this website. Your choices on this website will be applied globally throughout the website.

LiquidityFinder & Our Partners

Your behavior, data and actions may be utilized to offer you optimal connections and services by approved and suitable providers fitting your account requirements and website actions. When contacting providers or initiating a provider request, match matrix or expert match review we may share necessary data to evaluate your compatability with our connected partners and suitable providers.