The CSE looks Down Under for first acquisition
The Canadian Securities Exchange (CSE) on Monday announced an agreement to acquire NSX Limited (ASX:NSX), owner of the National Stock Exchange of Australia (NSXA), in an all-cash deal valued at AUD$16 million or AUD$0.035 per share
The NSXA listed on the Australian Stock Exchange in 2005 and currently hosts over 45 securities
Consideration represents a 59-per-cent premium to NSX's closing price on May 16, 2025
The Canadian Securities Exchange (CSE) on Monday announced an agreement to acquire NSX Limited (ASX:NSX), owner of the National Stock Exchange of Australia (NSXA), in an all-cash deal valued at AUD$16 million or AUD$0.035 per share.
The NSXA, formed in 1937 as the Newcastle Stock Exchange, listed on the Australian Stock Exchange in 2005 and currently hosts over 45 securities. The exchange holds a Tier 1 market operator license for the listing and trading of equity securities, corporate debt and miscellaneous investment scheme units.
The acquisition, the first in CSE history, allows it to expand its reach through an exchange that shares its focus on early-stage companies, concentrated in the resource sector, that is 'positioned to disrupt a market currently dominated by an incumbent, legacy exchange, as the CSE was over 20 years ago,' according to Monday's news release.
Consideration represents a 59-per-cent premium to NSX's closing price on May 16, 2025, and will see the CSE pick up the remaining 95.2 per cent of ordinary shares following a 4.8 per cent investment announced on May 7.
The transaction is expected to close in Q3 2025, subject to the approval of shareholders from both companies, the Australian court and the Australian Securities and Investments Commission. Leadership insights
'This transaction enables the CSE to expand its reach and builds on our success in attracting global listings,' Richard Carleton, the CSE's chief executive officer (CEO), said in a statement. 'Through our 21-year history, the CSE has grown to more than 750 listings by focusing on and supporting entrepreneurial companies. The NSXA, working with us, is poised to execute a similar plan in Australia.'
'This transaction is exciting for issuers and investors,' Carleton added. 'Both countries have highly developed capital markets with many common features, including a unique infrastructure that supports pre-revenue companies in the public markets. We look to build on the success of the CSE in Canada and help to provide competing exchange market services to Australian issuers and investors. We will create a collaborative environment where both exchanges can investigate inter-listing solutions for clients.'
'The CSE's acquisition will provide NSX with financial strength and operational stability and bring global expertise to local exchange activities,' commented Max Cunningham, the NSXA's managing director and CEO. 'That is great news for participants and competition in Australia's capital markets. The Canadian experience demonstrates that one exchange size does not fit all. Issuers and investors in Australia are keen to see a dynamic alternative to the larger, legacy incumbent. A stronger balance sheet enables NSX to expand our product offering, sharpen our customer focus and provide Australian companies, brokers and investors liquid, reliable and well-regulated services. We believe in a strong, accountable and transparent regulatory environment underpinned by rules rather than opaque 'precedent-based' decision-making around waivers and other governance matters.' About the Canadian Securities Exchange
The Canadian Securities Exchange is a growing exchange proving access to public capital markets in Canada.
Join the discussion: Find out what everybody's saying about the CSE's new acquisition on Stockhouse's stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
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