US-run firm targets FX takeovers as it floats on London Stock Exchange
A US-run company targeting takeovers in the foreign exchange sector is to float on the London Stock Exchange (LSE) today.
Boston International Holdings is to list all of its shares, valued at £1.4m, on the LSE’s main market for listed securities from 8am. The company will now be seeking to buy firms within the FX sector.
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“With global FX market volumes reaching over $5 trillion per day, it is the largest financial market globally, yet it is also one of the most fragmented,” said chairman Borden James.
“This, combined with an increasingly complex regulatory environment and lower thresholds for risk across the industry, means that this fragmented market is prime for investment and consolidation.”
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“The knowledge and experience of the board, in particular in the FX, financial services and legal and compliance sectors, will contribute to the implementation of company strategies in the acquired businesses that enhance shareholder value and generate strong returns for investors.”
He added: “We are very pleased to have secured investment for the admission and look forward to executing our stated acquisition strategy for the benefit of our shareholders.”