Aquis Exchange, a London-based challenger stock exchange, is set to be acquired by Switzerland’s Six Group in a significant move for the financial markets.
- The acquisition agreement involves a cash offer valuing Aquis Exchange at £207 million, significantly boosting shareholder returns.
- Aquis shares saw a sharp increase in value, reaching 700p at the opening of the London markets, up from 340p on Friday.
- The deal combines Aquis’ innovative platform with Six’s traditional exchange operations, promising enhanced growth and development.
- Aquis will continue operating under its current brand, subject to shareholder approval in April 2025.
Aquis Exchange, founded in London in 2012, has reached an agreement to be acquired by Switzerland’s Six Group. The deal was announced in a regulatory filing, outlining a cash offer where Six will pay 727p per share, valuing Aquis at an impressive £207 million. This valuation represents a substantial premium, providing a notable return for shareholders. Prior to the announcement, Aquis shares were trading at 340p per share on the London Stock Exchange, highlighting a 120% increase with Six’s offer. Following the news, shares soared to 700p as the London markets opened.
This acquisition marks a significant financial development as it combines Aquis’ modern, technology-driven exchange with Six Group’s established operations. Bjørn Sibbern, Six’s global head of exchanges, emphasised the strategic alignment, noting that, “Combining Aquis with SIX’s platform is a compelling opportunity to bring together two businesses with a shared commitment to capital markets innovation.” Aquis’ capabilities will complement Six’s primary exchange and data businesses, enhancing its growth potential in listing segments.
Aquis, under the leadership of founder Alasdair Haynes, has carved a niche as a tech-led, efficient market for small to medium-sized businesses, diverging from traditional stock exchange models. Despite the acquisition, it intends to retain its brand identity and business model, focusing on expanding its reach across Europe. As Haynes remarked, “As part of SIX, we have an exciting opportunity to accelerate the development of our business and compete more effectively on the European stage, while retaining our entrepreneurial spirit.”
The proposed acquisition will be subject to shareholder agreement at Aquis’ annual general meeting in April 2025. This condition underscores the importance of shareholder support for the deal to proceed. Until then, Aquis aims to operate as usual, maintaining its commitment to providing efficient market solutions.
The acquisition of Aquis by Six Group signifies a strategic consolidation in the financial sector, poised to drive innovation and market efficiency.
