Saxo Bank Explores Amsterdam Listing with SPAC Deal

Denmark-headquartered broker, Saxo Bank announced its intentions on Thursday to become a public company by merging with the blank-check company, Disruptive Capital Acquisition Company Limited (DCAC).

If the deal is materialized, the merged entity will be listed on Euronext Amsterdam. Additionally, Saxo will become one of the few publicly listed brokerages.

Moreover, the broker has detailed that the purpose of the potential public listing is to diversify its shareholder base. On top of that, it will raise the company’s profile and accelerate its growth strategies.

“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,” said Kim Fournais, the Founder and CEO of Saxo Bank.

“I am proud to invite new shareholders into Saxo and the exciting growth journey ahead of us.”

The broker confirmed that it is well-capitalized, and there will be no primary issue of shares with the listing. Rather, there will be a secondary sale of Saxo shares.

Existing Saxo shareholders, Geely Financials Denmark A/S and Sampo Plc, are considering liquidating a part of their holdings. Meanwhile, a few Board Members and some of the senior management at Saxo, including the CEO Fournais, are intending to raise their stake in the brokerage company.

Another SPAC Deal in the Brokerage Space

DCAC, Saxo’s SPAC partner, listed itself on Euronext Amsterdam last October, raising £125 million. If its merger Merger A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d Read this Term with Saxo is approved, DCAC shareholders will receive Saxo shares with the subsequent delisting and liquidation of SPAC, putting Saxo as a listed entity.

The blank-check company is now seeking approval from its shareholders and investors on the offer.

“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,” said Edi Truell, the Co-Founder of DCAC.