Saxo Bank Considers Possible Sale

Saxo Bank is reportedly looking for a possible sale after a failed IPO attempt. According to sources, the Danish bank, which provides digital investment and trading services, recently invited investment bankers to audition for advisory roles in a possible sale.

The sources cited that the value of the Saxo deal could be between $1.6 billion and $2.1 billion, and the sale could begin later this year. The sale is expected to attract interest from private equity groups, asset managers, and European banks.

Saxo Bank began negotiations in September 2022 to go public with a special purpose acquisition company (SPAC), but the talks were canceled with the bank citing “challenging market conditions.”

(Source: PYMNTS)