- Saxo Bank, a leading online trading platform, is actively exploring a potential sale and has enlisted investment bankers to assist with the process.
- The company, potentially valued at €1.5 to €2 billion, could pursue a full sale or opt for selling a minority stake.
Copenhagen-based online trading specialist Saxo Bank is making moves towards a potential sale. Sources indicate the company has reached out to several investment banks to help facilitate the process.
While a sale could be finalized later this year, market conditions could potentially affect the timeline. The estimated value of Saxo Bank rests between €1.5 and €2 billion.
Currently, discussions are centered around whether to pursue a full sale of the company or sell a smaller stake, which could allow existing shareholders to gain liquidity down the road.
Saxo Bank’s major shareholders include Geely Group (a Chinese conglomerate), CEO Kim Fournais, and Finnish insurance group Sampo.
In 2022, Saxo Bank made an unsuccessful attempt to go public via a SPAC merger. Recently, however, Saxo Bank’s usually solid performance has faltered, leading to its first semi-annual loss in years and a drop in key trading volumes.
