Latest news with #PrimaryBid
Finextra
6 days ago
- Business
- Finextra
Computershare named as potential buyer for PrimaryBid
Australian stock transfer agency Computershare is reportedly one of a number of companies looking to acquire UK fintech PrimaryBid which was put up for sale earlier this year 0 This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. Retail investor platform PirmaryBid was at one time slated to be the next British unicorn and was valued at more than $500bn in 2022 at the height of the pandemic-induced retail stock trading boom. However, the company's value has fallen sharply since then thanks to a severe slowdown in equity markets activity. One of its shareholders, LSEG, wrote down the value of its 7.2% share in March, giving PrimaryBid a valuation of around $56bn. It was around the same time that PrimaryBid began exploring a potential sale following expressions of interest from prospective buyers. Since then the company has reshaped its UK operations and stepped back from regulated activities. SkyNews also reported, back in March, that PrimaryBid was exploring a deal with LSEG that would see the exchnage group licence the fintech's capital raising technology. However, SkyNews is now reporting that Computershare has expressed an interest in the retail investing platform, along with a number of investment banks and market infrastructure providers.
Yahoo
6 days ago
- Business
- Yahoo
Registrar Computershare among suitors for former fintech star PrimaryBid
The Australian-listed share registrar Computershare is among a pack of suitors circling PrimaryBid, one of the most prominent British fintech businesses to be established during the last decade. Sky News has learnt that Computershare has expressed an interest in acquiring PrimaryBid, which was put up for sale earlier this year. PrimaryBid, which counts London Stock Exchange Group and the SoftBank Vision Fund among its investors, has drawn interest from a large number of parties, including investment banks and market infrastructure providers, according to insiders. Money: Thousands of customers due a refund - as network apologises The company was founded with a simple vision to help ordinary investors gatecrash the closed City ranks of corporate fundraisings and flotations by aggregating demand from retail shareholders into a single, enlarged order. That mission to democratise access to public markets won support from politicians and market participants. It made significant progress towards this goal during the pandemic, notably securing a slice of a £2bn share sale announced by Compass Group, the FTSE 100 contract caterer. Since then, it has worked on hundreds of deals and helped raise roughly $2bn in equity for listed companies. However, it has been hit by a severe slowdown in equity capital markets activity, prompting it to launch a strategic review and hire US-based market infrastructure specialist Rosenblatt Securities to evaluate its strategic options. PrimaryBid has been facing into the weakest IPO market in years, which it has been attempting to mitigate by striking partnerships with the likes of US fintech group SoFi, as well as European groups. It has now reshaped its UK operations and stepped back from regulated activities, having for several months explored a deal with LSEG, one of its largest shareholders, to license its retail capital-raising technology. For some time, the company was chaired by Sir Donald Brydon, the veteran businessman who also used to chair the stock exchange's parent company. Earlier this year, LSEG wrote down the value of its 7.2% stake in PrimaryBid by 87%, implying that the business now had a valuation of just £56m. Computershare's interest in a deal is said to be exploratory, with many other prospective bidders at a similar stage. A Computershare spokesman said: "We do not comment on market speculation." PrimaryBid declined to comment.
Sky News
6 days ago
- Business
- Sky News
Registrar Computershare among suitors for former fintech star PrimaryBid
The Australian-listed share registrar Computershare is among a pack of suitors circling PrimaryBid, one of the most prominent British fintech businesses to be established during the last decade. Sky News has learnt that Computershare has expressed an interest in acquiring PrimaryBid, which was put up for sale earlier this year. PrimaryBid, which counts London Stock Exchange Group and the SoftBank Vision Fund among its investors, has drawn interest from a large number of parties, including investment banks and market infrastructure providers, according to insiders. The company was founded with a simple vision to help ordinary investors gatecrash the closed City ranks of corporate fundraisings and flotations by aggregating demand from retail shareholders into a single, enlarged order. That mission to democratise access to public markets won support from politicians and market participants. It made significant progress towards this goal during the pandemic, notably securing a slice of a £2bn share sale announced by Compass Group, the FTSE 100 contract caterer. Since then, it has worked on hundreds of deals and helped raise roughly $2bn in equity for listed companies. However, it has been hit by a severe slowdown in equity capital markets activity, prompting it to launch a strategic review and hire US-based market infrastructure specialist Rosenblatt Securities to evaluate its strategic options. PrimaryBid has been facing into the weakest IPO market in years, which it has been attempting to mitigate by striking partnerships with the likes of US fintech group SoFi, as well as European groups. It has now reshaped its UK operations and stepped back from regulated activities, having for several months explored a deal with LSEG, one of its largest shareholders, to license its retail capital-raising technology. For some time, the company was chaired by Sir Donald Brydon, the veteran businessman who also used to chair the stock exchange's parent company. Earlier this year, LSEG wrote down the value of its 7.2% stake in PrimaryBid by 87%, implying that the business now had a valuation of just £56m. Computershare's interest in a deal is said to be exploratory, with many other prospective bidders at a similar stage.
Sky News
28-03-2025
- Business
- Sky News
Retail investor platform PrimaryBid in talks about sale
PrimaryBid, the fintech which had aspirations of joining the ranks of British unicorns, is exploring a sale after receiving expressions of interest from potential buyers. Sky News has learnt that PrimaryBid, which counts London Stock Exchange Group and the SoftBank Vision Fund among its investors, is working with advisers to field interest in a takeover. City sources said the process was being conducted on an accelerated basis and that if concluded, it would be at a steep discount to the $500m valuation which it attracted three years ago. PrimaryBid was founded with a simple but compelling vision to help ordinary investors gatecrash the closed City ranks of corporate fundraisings and flotations by aggregating demand from retail shareholders into a single, enlarged order. That mission to democratise access to public markets won support from politicians and market participants. It made significant progress towards this goal during the pandemic, notably securing a slice of a £2bn share sale announced by Compass Group, the FTSE 100 contract caterer. Since then, it has worked on hundreds of deals and helped raise roughly $2bn in equity for listed companies. However, it has been hit by a severe slowdown in equity capital markets activity, prompting it to launch a strategic review and hire US-based market infrastructure specialist Rosenblatt Securities to evaluate its strategic options. Sources said on Friday that it had received a number of expressions of interest about a deal from financial institutions and other investors. PrimaryBid has been facing into the weakest IPO market in years, which it has been attempting to mitigate by striking partnerships with the likes of US fintech group SoFi, as well as European groups. It has now reshaped its UK operations and stepped back from regulated activities, having for several months explored a deal with LSEG, one of its largest shareholders, to license its retail capital-raising technology. For some time, the company was chaired by Sir Donald Brydon, the veteran businessman who also used to chair the stock exchange's parent company. Financial News, the trade publication, reported on Friday that LSEG had written down the value of its 7.2% stake in PrimaryBid by 87%, implying that the business now had a valuation of just £56m. Founded in 2016, PrimaryBid has raised roughly $250m during its nine years in existence.
