This acquisition, first announced on 5 July 2019, is another step in Aquis’ ambition to become the leading exchange services group in Europe. Underpinned by the Group’s proven technology and a track record of transparency and innovation, the Board believes that Aquis’ experience in building new businesses in the exchange industry and increasing liquidity, means it has the ability to transform the old NEX Exchange business at a time when MiFID II implications and other factors make the IPO industry ripe for innovation.
Following completion of the acquisition, which is expected shortly, NEX Exchange will be re-named Aquis Stock Exchange (AQSE) and will enter a consultation period with market participants, regulators and issuers. The Company looks forward to providing an update on its plans in due course.
In addition, the Company announces that its Non-Executive Director Glenn Collinson will step down from the Aquis Exchange PLC board and will join the board of AQSE on completion.
Alasdair Haynes, Chief Executive Officer of Aquis, commented:
“We are delighted that this acquisition has now been approved and we look forward to welcoming NEX Exchange’s staff, customers and other stakeholders to our Group. Since announcing our intention to purchase the business we have been most encouraged by the appetite for change in the industry. We look forward to building Aquis Stock Exchange into the supportive home for quality growth businesses we believe it should become.”