<p>Following the termination of its proposed Special Purpose Acquisition Company (SPAC) deal with Amsterdam-listed Disruptive Capital Acquisition Company last month, Saxo Bank says it is keeping “all options open” for a potential IPO. Additionally, the Denmark-based broker and online investment bank said NASDAQ Copenhagen is its preferred venue for public listing. </p><p class=”MsoNormal”>The CEO, Kim Fournais told Reuters that the firm is considering giving its outside investors a new means to cash in. This could include an initial public offering (IPO) that could come as early as this year, Fournais told the outlet.</p><p class=”MsoNormal”>Saxo Bank IPO in the Works with SPAC Abandoned?</p><p class=”MsoNormal”>Saxo Bank’s <a href=”https://www.financemagnates.com/forex/breaking-saxo-bank-terminates-spac-deal-ending-public-listing-ambitions/” target=”_blank” rel=”follow”>abandonment of the SPAC deal</a> last month meant that existing shareholders, Chinese automaker Geely and Finnish insurer Sampo, had to put their plan to liquidate a part of their holdings in the firm on hold. However, an anonymous source told the news outlet that the Danish firm was considering the option of a private share placement. However, Fournais told Reuters no concrete decision has been reached.</p><p class=”MsoNormal”>Similarly, Israel-based eToro, a social trading and multi-asset investment company, <a href=”https://www.financemagnates.com/forex/etoro-and-fintech-acquisition-corp-terminate-merger-deal/” target=”_blank” rel=”follow”>terminated its merger deal</a> with a blank-check company, FinTech Acquisition Corp. V in July last year. The Israeli firm had intended to make its public listing debut on NASDAQ following a proposed merger that was <a href=”https://www.financemagnates.com/forex/brokers/etoro-confirms-public-listing-with-spac-merger/%5C” target=”_blank” rel=”follow”>first announced</a> in March 2021.</p><p>Check out the recent Finance Magnates interview with Charlie White Thomson, the CEO of Saxo Bank UK, at the FMLS22.</p><p class=”MsoNormal text-align-justify”>Saxo Bank Latest Trading Metrics</p><p class=”MsoNormal”>Saxo Bank as a major player in the forex trading industry provides services to retail and professional traders. In its latest financial metric (for December 2022), the Danish broker <a href=”https://www.financemagnates.com/forex/saxo-bank-posts-12-decline-in-december-fx-demand/” target=”_blank” rel=”follow”>reported a 9.3% drop</a> in overall monthly trading volume on its platform last month, with volumes reaching $415.7 billion.</p><p class=”MsoNormal”>Additionally, retail forex trading on the platform declined by -12.2% to $121.3 billion in December, which is down from $138 billion in the prior month.</p><p class=”MsoNormal”>Meanwhile, Saxo Bank recently <a href=”https://www.financemagnates.com/executives/moves/saxo-bank-names-mads-dorf-petersen-as-permanent-cfo/” target=”_blank” rel=”follow”>appointed Mads Dorf Petersen</a> as its permanent Group Chief Financial Officer. Before the permanent position, Petersen served in an interim capacity following <a href=”https://www.financemagnates.com/executives/saxo-bank-selects-mads-petersen-as-interim-cfo-as-mette-pedersen-exits/” target=”_blank” rel=”follow”>the departure of Mette Pedersen</a> in October last year.</p>
This article was written by Solomon Oladipupo at www.financemagnates.com.
