LSE


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LSE is an active member of South Asian Federation of Exchanges (SAFE) and Federation of Euro-Asian Stock Exchanges (FEAS).
The Middle Eastern investor reportedly instructed Citigroup and Bank of America Merrill Lynch to sell a 4.8% stake, of its total 15% stake, in LSE Group in an overnight accelerated bookbuild process.
Earlier this month, LSE, which already owned a 2.3% stake in the target, struck a revised deal to buy an additional 55.5% stake in LCH for EUR328m (USD418.9m) plus a deferred consideration of up to EUR23m.It will pay EUR15.00 per share, including EUR14.00 per share in cash on completion and EUR1.00 per share payable on 30 September 2017.
LSE officials said the recent high profile listings of DP World and the planned listing of Emirates' $1 billion bond has triggered more interest from corporate and sovereign related entities to list securities ranging from ordinary equity shares, bonds, sukuk and GDRs (global depository receipts).
As LSE weighed up its next move, Nasdaq OMX and IntercontinentalExchange (ICE) abandoned their hostile takeover bid for NYSE Euronext, opening the way for the New York exchange's merger with German powerhouse Deutsche Boerse.
In September 2008, the LSE experienced a near full-day shut down, with only low levels of liquidity shifting to Chi-X Europe and the newly-launched Turquoise, then owned by a consortium of brokers.
Borse Dubai, which holds a 20.6 percent stake in the LSE and is owned by the ruler of the Gulf Arab emirate, will become the single largest shareholder in the new entity with an 11.3 percent stake if the deal is completed.
INET@LSE will host researchers from the LSE and CEU, visiting faculty, and policy practitioners.
The move, which would involve the LSE initially investing pounds 20m in Turquoise, could help repair the exchange's relationships with the major investment banks.
LSE alumni, including easy Jet founder Sir Stelios Haji-Ioannou, have helped fund the project, with donations from more than 20 countries.
The offer was accompanied by Nasdaq's announcement that it has acquired additional LSE shares and raised its stake in the London bourse to 28.75 percent from around 25 percent.
The LSE said the 1243p-a-share offer "substantially undervalues the company" just hours after Nasdaq lodged its bid.