logo
Share SHARE
FONT-SIZE Plus   Neg

LSE To Dispose 49% Stake In Japanese JV To Tokyo Stock Exchange - Quick Facts

London Stock Exchange Plc (LSE.L) on Tuesday said it has entered into an agreement to sell its 49 percent stake in Tokyo AIM, Inc. to Tokyo Stock Exchange Group, Inc. for a cash consideration of 1.3 million pounds plus a royalty payment of 200 thousand pounds.

Tokyo AIM, a new equity market for growing companies, is a joint venture between the Tokyo Stock Exchange and the LSE.

The company expects to close the transaction on March 28, subject to customary conditions.

In a statement, Tokyo Stock Exchange noted that effective March 28th, Tokyo AIM will become its 100% subsidiary and that there will be no change to Tokyo AIM's market operations. Tokyo Stock Exchange plans to integrate Tokyo AIM effective July 1 and re-brand its market as 'TOKYO PRO Market'.

LSE shares are currently trading at 1,026 pence, up 3 pence or 0.29 percent.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
French car maker Renault SA reported Friday higher profit in its fiscal 2015, with strong growth in automotive profit and revenues. The company announced higher dividend. Looking ahead, for fiscal 2016, Renault expects to increase group revenues at constant exchange rates and improve group operating margin. Shares of Rolls-Royce Holdings Plc were gaining around 13 percent in the morning trading in London after the engine maker reported more-than doubled profit in its fiscal year 2015, with lower one-time items. Underlying earnings were hurt by weakness in Marine markets. Further, the company halved its dividends, and still expects lower revenues next year. German steel giant ThyssenKrupp AG reported a loss in its first quarter, compared to last year's profit as sales and orders were hurt by sharp deterioration in materials businesses. The company said its overall performance in the first quarter was within its full-year forecast corridor. Looking ahead, the company continues to expect higher net income and flat sales for fiscal 2016.
comments powered by Disqus
Follow RTT