A court has given the final go-ahead to Miami International Holdings, Inc. (MIH) to complete its takehover of The International Stock Exchange Group Limited (TISE) via its subsidiary MIH East Holdings.
At a cash price of £22.50 per TISE ordinary share, it values the business at around £70.4m.
Thomas P. Gallagher, Chairman and CEO of MIH, said: "MIH’s acquisition of TISE represents a key milestone in advancing our international growth strategy. I would like to extend my deepest gratitude to the TISE board of Directors for their support throughout the process. I am especially grateful to Anderson Whamond for his steadfast guidance and diligence in completing the transaction and I look forward to working with him through the transition process."
"We are excited to establish a presence in Guernsey and believe that TISE’s strong reputation and solid business foundation provide MIH with significant opportunity to enhance our offerings and expand our international footprint through investments in TISE’s technology, business development and operational processes."
Headquartered in Guernsey, TISE provides financial markets and securities services to public and private companies. With operations across Dublin, Guernsey, the Isle of Man, Jersey and London, it is one of Europe’s major professional bond markets; TISE’s Qualified Investor Bond Market (QIBM) is a leading market in Europe for listing high yield bonds, structured finance products and securitization transactions. TISE lists a pool of investment funds, UK Real Estate Investment Trusts (REITs) and hosts a sustainable finance segment, TISE Sustainable.
TISE reported over 4,400 securities on its Official List with a total market value of more than £750bn at the end of 2024.
Cees Vermaas, CEO of TISE, said: "The acquisition of TISE by MIH signifies the growth of our business and we look forward to collaborating with the MIH team to further strengthen TISE’s credentials as a leading European listing venue. With MIH’s endorsement of our strategy, people and position in the European market, we are well placed to accelerate our growth ambitions, broaden our service offering and deliver greater value to our stakeholders."
