Nasdaq Set to Acquire 37 Percent Stake in Oslo Bors

Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term operator Nasdaq announced that it is on track to complete its purchase of shares in the Oslo Bors (OSE) this Thursday.

The New York-based firm issued a statement saying that it has received approval to acquire 844,071 shares in the Norwegian Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term.

Nasdaq first announced the terms of the deal in February of this year.

The US firm’s Nordic subsidiary, Nasdaq AB, was responsible for the acquisition of those shares.

In its statement, Nasdaq said that it would be paying 158 Norwegian Kroner ($18.60) per share.

That means the exchange operator will be paying approximately $15.7 million for its latest acquisition.

As a result of the deal, the firm will control 37 percent of OSE’s shares.

Regulatory approval on the way

The exchange operator is unlikely to have to wait around for any regulatory approval for the deal.

On April 8, Norway’s Financial Supervisory Authority recommended to the country’s Ministry of Finance that the acquisition be approved.

“As we continue to pursue our ambition to acquire [the OSE], we are pleased to have been deemed fit and proper by the Norwegian Financial Supervisory Authority,” said Nasdaq Nordic’s president Lauri Rosendahl.

The OSE’s board has also vocally supported the deal with Nasdaq.

The exchange’s president and its chief executive officer, along with two of the other major shareholders in the firm, have said publicly that it is the best deal for the OSE.

“Based on the support by the board and key stakeholders, we remain confident that our offer is the best alternative for the continued long-term success of the Norwegian financial markets, and we look forward to the final decision of the Ministry of Finance,” added Rosendahl.