Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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.

Click here to receive FREE breaking news email alerts for London Stock Exchange Group Plc and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
With traders seemingly reluctant to make any significant moves, stocks continue to show a lack of direction in mid-day trading on Friday. Nonetheless, the markets are largely holding on to the bulk of their recent gains. On the heels of the violent clashes between local police and protestors in Ferguson, Missouri, Sen. Claire McCaskill, D-Mo., announced that she will hold a Senate hearing in September to examine the militarization of local police departments. UN human rights chief has called attention to "the international paralysis" on finding a solution to the conflict in Syria, which according to her empowered and emboldened the "killers, destroyers and torturers" in the country. UN High Commissioner for Human Rights Navi Pillay on Friday appealed to Governments to take serious measures to halt the fighting and deter the crimes, and above all "sto
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.