Miami International Holdings, Inc. has completed its purchase of The International Stock Exchange Group Limited with shares valued at £22.50 each – or £70.4 million ($91.5 million) in total.
The deal means TISE is now part of the wholly-owned MIH subsidiary, MIH East Holdings Limited.
“MIH’s acquisition of TISE represents a key milestone in advancing our international growth strategy,” said Thomas P. Gallagher, Chairman and CEO of MIH.
“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.”
Headquartered in Guernsey, TISE provides financial markets and securities services to public and private companies.
It lists a pool of investment funds, UK Real Estate Investment Trusts (REITs) and hosts a sustainable finance segment, TISE Sustainable.
At the end of 2024, TISE had reported more than 4,400 securities on its Official List with a total market value of more than £750 billion ($975 billion).
“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,” said Cees Vermaas, CEO of TISE.
“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.”
Mr Gallagher added: “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.”
Reed Smith LLP served as English legal advisor to MIH and Mourant Ozannes (Guernsey) LLP served as Guernsey legal advisor to MIH. Ashurst LLP served as English legal advisor to TISE and Walkers (Guernsey) LLP served as Guernsey legal advisor to TISE. Zeus Capital Limited served as financial advisor to MIH and Investec Bank plc served as financial advisor to TISE.