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  • ASIC Sues Block Earner For Unlicensed Conduct Over Crypto-Asset Based Products

    Date 23/11/2022

    ASIC has commenced civil penalty proceedings in the Federal Court against fintech company Block Earner alleging it provided unlicensed financial services in relation to its crypto-asset based products and that it operated an unregistered managed investment scheme.

  • Relevant Officials Of Shanghai Stock Exchange Respond To The Press

    Date 23/11/2022

    Q: Recently, there are social media posts on the listing of certain enterprises on the STAR Market, with attention to their business and revenue involving nucleic acid testing. Do you have any comments on this?

  • Shenzhen Stock Exchange Press Secretary Answers Reporters' Question

    Date 23/11/2022

    Q: Some we-media recently reported on the applications for listing on the ChiNext Board by companies like Dakewe and expressed concern about their business and income because they are nucleic acid testing related. What’s your comment?

  • Asia-Pacific Deal Activity Takes 1.4% YoY Hit During January-October 2022, Finds GlobalData

    Date 23/11/2022

    Geopolitics, rising inflation, Russia-Ukraine war, energy crisis and uncertain economic conditions continue to make a dent in deal-making sentiment across Asia-Pacific (APAC). As a result, deal activity (mergers & acquisitions [M&A], private equity, and venture financing deals) in the region witnessed a 1.4% year-on-year decline during January-October 2022, reveals GlobalData, a leading data and analytics company.

  • NZX Buys QuayStreet, Signs Agreement With Craigs

    Date 23/11/2022

    TRANSACTION HIGHLIGHTS:

    • NZX to acquire the management rights of QuayStreet (and its $1.6 billion in funds under management) from Craigs Investment Partners for upfront consideration of $31.25 million, to be satisfied by a $22.5 million cash payment and the issuance of $8.75 million of NZX shares (at a 10% premium to the five-day volume-weighted average price).
    • Potential earn-out consideration of up to $18.75 million, based on net FUM inflows from the Craigs network over a three-year period.
    • Product support and distribution agreement agreed as part of landmark deal.
    • Acquisition expected to have a full year equivalent operating earnings contribution of between $3.3 million to $3.6 million in FY23. This excludes transaction costs, internal and external integration costs (circa $4 million over two years), depreciation and amortisation, interest expenses and the impacts of acquisition accounting.
    • Builds on Smartshares’ continued organic growth and the prior ASB Superannuation Master Trust (SMT) acquisition to drive scale and operating leverage in funds management business.
    • Enables Craigs, a business with $26 billion of funds under management, to dedicate resource solely toward delivering exceptional service, and quality investment outcomes for clients.