Stock exchange deal is off

Monday 03 August 2015

The Channel Islands Securities Exchange Limited (CISE) has ceased discussions regarding the acquisition of the European marketplace for SMEs, the Danish-based GXG Markets A/S (GXG).

It was announced on 22 July that an in-principle agreement for the transaction had been agreed between the CISE’s wholly owned subsidiary, The Channel Islands Securities Exchange Authority Limited (CISEA) and the Swedish-headquartered GXG Global Exchange Group AB and GXG.

However, the CISE has now decided not to proceed any further.

Fiona Le Poidevin, Chief Executive Officer of the CISE, said: “The deal had reached offer stage but, following extensive due diligence procedures, the decision has been made by the CISE not to proceed."

The Channel Islands Securities Exchange is headquartered in Guernsey with a branch in Jersey, and it provides a market for companies to raise capital from international investors.