Aquis Exchange (AQX)

Sector:

Financials

Index:

FTSE AIM All-Share

 358.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 490.00
  • 52 Week Low: 320.00
  • Currency: UK Pounds
  • Shares Issued: 27.17m
  • Volume: 192
  • Market Cap: £97.27m

Aquis buys NEX Exchange from CME Group in ?2.7m deal

By Josh White

Date: Friday 05 Jul 2019

LONDON (ShareCast) - (Sharecast News) - Exchange services group Aquis Exchange has agreed to acquire NEX Exchange from CME Group for a cash consideration of £1, plus approximately £2.7m based on NEX Exchange's current working capital levels, it announced on Friday.
The AIM-traded firm said NEX Exchange, a UK-based stock market for growth enterprises, was one of only four equities-focused Recognised Investment Exchanges (RIEs) in the UK.

It worked with 51 registered brokers, seven market makers and 89 companies currently listed on its two markets, with a combined market capitalisation of approximately £1.9bn.

The acquisition was described by Aquis as "another step" in its ambition to become "the leading exchange services group" in Europe, adding that it provided a "unique opportunity" to acquire an RIE business with a focus on primary markets in a cost and time-effective manner.

It said it believed that with its experience in both building new businesses in the exchange industry and also increasing liquidity, it had the ability to transform NEX Exchange at a time when MiFID II implications and other factors made the industry "ripe" for innovation.

The board said the acquisition would provide a "unique opportunity" to build a pan-European, technology driven listing exchange for growth companies.

Based on the audited financial accounts for the year ended 31 March 2018, NEX Exchange delivered revenues of £1.51m and a loss before tax of £2.05m.

The company said it believed that "significant" cost savings could be delivered in the short term, "significantly" reducing the loss in the initial period following the acquisition.

Completion of the acquisition was expected in the autumn, subject to FCA approval.

"Our stated aim is to become the leading technology-driven exchange services group, and this acquisition is a milestone towards delivering this vision," said Aquis Exchange chief executive officer Alasdair Haynes.

"We have a successful blueprint of proven technology and are confident that we can not only deliver growth but we can also positively address the current issues in small and mid-cap trading.

"We have the capability, capacity and ambition to drive further shareholder value through this transaction."

Ken Vroman, senior managing director for cash markets and optimisation services at CME Group, added that the company was "pleased" to have reached an agreement with Aquis Exchange for it to acquire NEX Exchange.

"There are natural synergies between the two companies, and we believe Aquis is well positioned to take NEX Exchange to the next level of its growth."

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Aquis Exchange Market Data

Currency UK Pounds
Share Price 358.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 490.00
52 Week Low 320.00
Volume 192
Shares Issued 27.17m
Market Cap £97.27m

Aquis Exchange Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
60.16% below the market average60.16% below the market average60.16% below the market average60.16% below the market average60.16% below the market average
50% below the sector average50% below the sector average50% below the sector average50% below the sector average50% below the sector average
Price Trend
9.51% below the market average9.51% below the market average9.51% below the market average9.51% below the market average9.51% below the market average
2.10% above the sector average2.10% above the sector average2.10% above the sector average2.10% above the sector average2.10% above the sector average
Income Not Available
Growth
15.60% above the market average15.60% above the market average15.60% above the market average15.60% above the market average15.60% above the market average
26.05% above the sector average26.05% above the sector average26.05% above the sector average26.05% above the sector average26.05% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Aquis Exchange Dividends

No dividends found

Trades for 03-Jul-2020

Time Volume / Share Price
09:21 192 @ 362.50p

Aquis Exchange Key Personnel

CEO Alasdair Frederick Seton Haynes

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