Following the termination of its proposed Special Purpose Acquisition Company (SPAC) deal with Amsterdam-listed Disruptive Capital Acquisition Company last month, Saxo Bank says it is keeping “all options open” for a potential IPO. Additionally, the Denmark-based broker and online investment bank said NASDAQ Copenhagen is its preferred venue for public listing.

The CEO, Kim Fournais told Reuters that the firm is considering giving its outside investors a new means to cash in. This could include an initial public offering (IPO) that could come as early as this year, Fournais told the outlet.

Saxo Bank IPO in the Works with SPAC Abandoned?

Saxo Bank’s abandonment of the SPAC deal last month meant that existing shareholders, Chinese automaker Geely and Finnish insurer Sampo, had to put their plan to liquidate a part of their holdings in the firm on hold. However, an anonymous source told the news outlet that the Danish firm was considering the option of a private share placement. However, Fournais told Reuters no concrete decision has been reached.

Similarly, Israel-based eToro, a social trading and multi-asset investment company, terminated its merger deal with a blank-check company, FinTech Acquisition Corp. V in July last year. The Israeli firm had intended to make its public listing debut on NASDAQ following a proposed merger that was first announced in March 2021.

Check out the recent Finance Magnates interview with Charlie White Thomson, the CEO of Saxo Bank UK, at the FMLS22.

Saxo Bank Latest Trading Metrics

Saxo Bank as a major player in the forex trading industry provides services to retail and professional traders. In its latest financial metric (for December 2022), the Danish broker reported a 9.3% drop in overall monthly trading volume on its platform last month, with volumes reaching $415.7 billion.

Additionally, retail forex trading on the platform declined by -12.2% to $121.3 billion in December, which is down from $138 billion in the prior month.

Meanwhile, Saxo Bank recently appointed Mads Dorf Petersen as its permanent Group Chief Financial Officer. Before the permanent position, Petersen served in an interim capacity following the departure of Mette Pedersen in October last year.