Inversis, a Banca March 100%-owned subsidiary specializing in providing global solutions for institutional clients in the financial asset distribution business, has reached an agreement with BME, a SIX company, for the complete acquisition of Openfinance.
This firm reportedly “offers technological tools for the provision of comprehensive reporting, advisory and discretionary portfolio management services, and has a presence in Spain, Andorra, Portugal, Mexico, Costa Rica, Panama, Colombia and Chile.”
The purchase of Openfinance by Inversis “implies the acquisition of the software, know-how and more than 20 years’ experience of the firm, which boasts a highly specialized team.”
The services provided by both companies “will be fully and easily integrated.”
Javier Hernani, CEO of BME and Head of Securities Services at SIX said:
“Openfinance has been part of BME for the last 10 years and we are very pleased with its track record and international expansion in Latin America. As part of SIX’s ongoing business evaluation and growth strategies, we will continue to analyse business opportunities and invest in the market infrastructure value chain.”
In another recent update, it was noted that Zhejiang Huayou Cobalt (Ticker “HUAYO”) becomes the sixth company to list Global Depository Receipts (GDRs) on SIX Swiss Exchange in 2023.
Zhejiang Huayou Cobalt Co., Ltd. “placed 50,000,000 GDRs at an offer price of USD 11.65 per GDR, with one GDR representing an interest in two (2) A-shares of the company.”
The A-shares of the company are “listed on the Shanghai Stock Exchange.”
Zhejiang Huayou Cobalt Co., Ltd. “raised gross proceeds of approximately USD 582.5 million from the GDRs offering.”
Zhejiang Huayou Cobalt Co., Ltd. is “a global technology-driven enterprise in the lithium-ion battery material industry.”
It has “a vertically integrated business model covering all steps along the value chain of the industry, starting from development of resources (i.e., nickel, cobalt and lithium) to the manufacture of lithium-ion battery materials.”
More information about Zhejiang Huayou Cobalt Co., Ltd. is available here.