The Australian Securities Exchange (ASX) has entered an agreement to sell its 18.6% stake in IRESS, terminating an 18-year investment in the developer of software and services for financial markets and wealth management. The sale has been underwritten at a fixed price of $11.95 per share and is expected to realise gross proceeds of $385 million. ASX managing director Dominic Stevens says: “IRESS has been an attractive investment for ASX over many years. But we believe now is the right time to divest as it no longer provides the strategic value to ASX that it once did.”
A-Team Insight Briefs
SX Sells its 18.6% Stake in IRESS
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RegTech Summit APAC will explore the current regulatory environment in Asia Pacific, the impact of COVID on the RegTech industry and the extent to which the pandemic has acted a catalyst for RegTech adoption in financial markets.
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