Saxo Bank Announces Sale of Fintech Joint Venture to Geely Group, Receives Saxo Bank Shares in Return
Strengthening its focus on core business and markets, Saxo Bank divests its stake in Saxo Geely Tech Holding A/S (Saxo Fintech) with the sale to Geely Group and receives Saxo Bank shares as part of the transaction.
After a process of diligent evaluation and strategic assessment, Saxo Bank can today announce the sale of its stake in the joint venture Saxo Geely Tech Holding A/S (Saxo Fintech) to Geely Group.
As part of this transaction, Saxo Bank will receive its own shares in return - equivalent to approximately 2% of the outstanding Saxo Bank shares. Consequently, the new ownership structure of Saxo Bank will consist of:
- Geely Financials Denmark: 49.88%
- Fournais Holding: 28.09%
- Sampo: 19.83%
- Minority shareholders: 2.20%
With this agreement, Geely Group will acquire all shares previously held by Saxo Bank in Saxo Fintech, resulting in Geely Group holding a 100% ownership of Saxo Fintech.
Saxo Fintech was established in 2019 as a technology joint venture with its own separate technology stack to provide financial and regulatory technology solutions to financial institutions such as banks, brokers, and fintechs in Mainland China. The ownership of the joint venture was evenly split between Saxo Bank and Geely Group.
This strategic decision aligns with Saxo Bank's ongoing commitment to optimise its business operations and focus on core markets and clients.
The sale is subject to customary closing conditions, including regulatory approval.
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 200 financial institutions as partners by boosting the investment experience they can offer their clients. Keeping our headquarters in Copenhagen, Saxo has more than 2,500 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