Saxo Bank Completes Sale of Fintech Joint Venture to Geely Group
Saxo Bank is pleased to announce the successful completion of its transaction involving the sale of Saxo Geely Tech Holding A/S (Saxo Fintech) to Geely Financials Denmark. All relevant agreements have been duly signed, formalising the closing of this transaction.
As part of this transaction, Saxo Bank receives its own shares in return - equivalent to approximately 2% of the outstanding Saxo Bank shares.
Following the closing of this this transaction, the ownership structure of Saxo Bank is as follows:
- Geely Financials Denmark: 49.88%
- Fournais Holding: 28.09%
- Sampo/Mandatum: 19.83%
- Minority shareholders: 2.20%
The divestment of the Saxo Geely Tech Holding (Saxo Fintech) shares marks the end of Saxo Bank’s ownership of the Chinese Joint Venture, allowing the bank to optimise its business operations and focus on core markets and clients.
At Saxo we believe that when you invest, you unlock a new curiosity for the world around you. As a provider of multi-asset trading and investment solutions, Saxo’s purpose is to Get Curious People Invested in the World. We are committed to enabling our clients to make more of their money. Saxo was founded in Copenhagen, Denmark in 1992 with a clear vision: to make the global financial markets accessible for more people. In 1998, Saxo launched one of the first online trading platforms in Europe, providing professional-grade tools and easy access to global financial markets for anyone who wanted to invest.
Today, Saxo is an international award-winning investment firm for investors and traders who are serious about making more of their money. As a well-capitalised and profitable Fintech, Saxo is a fully licensed bank under the supervision of the Danish FSA, holding broker and banking licenses in multiple jurisdictions. As one of the earliest fintechs in the world, Saxo continues to invest heavily into our technology. Saxo’s clients and partners enjoy broad access to global capital markets across asset classes on our industry-leading platforms. Our open banking technology also powers more than 150 financial institutions as partners by boosting the investment experience they can offer their clients. Keeping our headquarters in Copenhagen, Saxo has more than 2,300 professionals in financial centres around the world including London, Singapore, Amsterdam, Hong Kong, Zurich, Dubai and Tokyo.
For more information, please visit: www.home.saxo