LONDON: MIH East Holdings, a subsidiary of Miami International Holdings (MIH), has announced a proposed acquisition of The International Stock Exchange Group Limited (TISE).
The offer, set at £22.50 per share, seeks to acquire the entire issued and to be issued ordinary share capital of TISE, valuing the company at approximately £70.4 million.
MIH’s growth strategy through mergers and acquisitions has included acquiring entities such as the MIAX Futures Exchange, The Bermuda Stock Exchange, and Dorman Trading, along with minority equity investments in various companies. These moves have allowed MIH to diversify its operations across multiple asset classes and geographies.
TISE, incorporated in Guernsey in 2013 and listed on The International Stock Exchange since 2016, provides financial market and securities services for public and private companies. Its offerings include both public and private markets, supported by a team of 40 employees primarily based in Guernsey.
MIH, which currently holds a 29.46% stake in TISE, views the acquisition as a strategic opportunity to establish a European presence for the MIAX Exchange Group. Thomas P. Gallagher, Chairman and CEO of MIH, highlighted the potential for international expansion and collaboration with TISE, stating that the acquisition aligns with MIH’s strategy of operating regulated financial markets globally.
Anderson Whamond, Chair of TISE, expressed optimism about the deal, emphasizing the progress TISE has made in diversifying its business and the potential benefits of collaboration with MIH for expanding its market presence in Europe and beyond.