PR PR
Public Relations, Saxo Bank
21 August 2015

New shareholder buys 9.9 per cent stake in Saxo Bank

​​​​​The co-founders of Saxo Bank, Kim Fournais and Lars Seier Christensen and some minority shareholders have sold a combined stake of 9.9 per cent of Saxo ...

​​​​​The co-founders of Saxo Bank, Kim Fournais and Lars Seier Christensen and some minority shareholders have sold a combined stake of 9.9 per cent of Saxo Bank to Indonesia's Sinar Mas Group, creating an opportunity to strengthen the Bank's growth in Asia.
 
Saxo Bank's co-founders, Kim Fournais and Lars Seier Christensen, have together sold a 7 per cent stake of the business to Indonesia's Sinar Mas Group. The new owner will be a strong partner in the Asian markets that can strengthen the Bank's already solid growth in Asia delivering it's award winning multi asset trading platform to investors and traders.
 
In addition, other minority shareholders in Saxo Bank exercised their Tag-Along Right to join the transaction and sold a combined 2.9 per cent of the shares. Sinar Mas Group will thus acquire a 9.9 per cent stake of Saxo Bank. Lars Seier Christensen and Kim Fournais continue to own more than half of the Bank's equity equivalent to 52 per cent and continue, in cooperation with the global private equity firm TPG Capital, to be the controlling shareholders of the Bank.
 
In a joint statement, Kim Fournais and Lars Seier Christensen, said:
 
"This is a strategic sale of shares following an offer received from a partner who will really help open further doors to the Asian markets, where Saxo Bank is already experiencing solid growth. We look forward to a close and successful collaboration with Sinar Mas Group supporting investors and traders in Asia with unparalleled access to global financial markets.
 
"Since we founded the company 23 years ago, we have invested heavily in technology, enabled opportunities for private and professional investors and traders and with the recent launch of SaxoTraderGO we have delivered to our clients the trading platform of the future.”

Danny Oei of Sinar Mas Group, said:
 
"Saxo Bank is an attractive investment for Sinar Mas Group because of its disruptive trading technology and vast experience in the financial markets. Saxo Bank is already an established name in most markets, and Sinar Mas Group can help spur growth in the Asian markets with its presence, network and competencies.”
 
Sinar Mas Group has acquired 9.9 per cent of the Bank's shares at a price of 951m DKK (127.5m EUR), valuing Saxo Bank at 9.6 billion DKK.

Media enquiries

Cathrine Kier, Head of Global Communications
+45 2068 4510
press@saxobank.com

About Sinar Mas Group

The Sinar Mas Group is one of the largest business Groups in Indonesia. Six Business Pillars operate under the Sinar Mas brand name: Pulp & Paper, Agri-business & Food, Financial Services, Real Estate Development, Telecommunications and Energy & Infrastructure.

Within Financial Services Sinar Mas Group provides securities, fund management banking and multi-finance as well as life and non-life insurance. The customers are both private and corporate, and are serviced from the direct subsidiaries or by joint ventures.

About Saxo Bank

Saxo Bank is an online multi-asset trading and investment specialist, offering private investors and institutional clients a complete set of tools for their trading and investment strategies. Its financial community portal, TradingFloor.com, is the first multi-asset social trading platform. A fully licensed and regulated European bank, Saxo Bank enables clients to trade FX, CFDs, ETFs, Stocks, Futures, Options and other derivatives on both our award-winning SaxoTrader and newly launched SaxoTraderGO platform, accessible on PCs, tablets or smartphones through a single account and available in more than 20 languages. The platform is white-labelled by more than 100 major financial institutions worldwide. Saxo Bank also offers professional portfolio and fund management as well as traditional banking services through Saxo Privatbank. Founded in 1992, Saxo Bank is headquartered in Copenhagen and has offices in 26 countries throughout Europe, Asia, the Middle East, Latin America, Africa and Australia.