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SINGAPORE, Dec. 15, 2011 /PRNewswire-Asia/ -- Saxo Bank, the online trading and investment specialist, is pleased to announce that TPG Capital, one of the world's leading investment firms, has today acquired 30% of the total issued share capital of Saxo Bank A/S.
The Danish Financial Supervisory Authority, other international supervisory authorities and the EU Commission have all approved a TPG Capital affiliate as a new qualifying shareholder in Saxo Bank A/S. The transaction has consequently been closed today and the change of ownership has been completed.
TPG Capital has acquired the 30% stake in Saxo Bank from existing investors, including General Atlantic, a global growth investor, and Banco Espirito Santo, a leading Portuguese bank, amongst others. General Atlantic and Banco Espirito Santo invested in Saxo Bank in 2005 and 2008, respectively. Banco Espirito Santo will continue to build its commercial cooperation with Saxo Bank.
As previously announced, the founders of Saxo Bank, Kim Fournais and Lars Seier Christensen, will retain majority ownership and continue in their roles as CEOs. Fournais Holding A/S and Lars Seier Christensen Holding A/S own 29.95% of the Bank each.
Following the new shareholder structure, the Board of Saxo Bank now includes Chairman Kurt K. Larsen, Dennis Malamatinas, Professor Thomas Plenborg as well as new members of the Board, Asiff S. Hirji, Partner at TPG Capital, Karl I. Peterson, Partner at TPG Capital, and Jacob Polny (alternate), Vice President at TPG Capital.
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You should carefully consider whether trading in leveraged products is appropriate for you in the light of your financial circumstances. You should be aware that dealing in products that are highly leveraged carry significantly greater risk than non-geared investments such as share trading. As such, you could both gain and lose large amounts of money. You may sustain losses in excess of the moneys you initially deposit and also in excess of the margin required to establish and maintain any positions in leveraged products.
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About Saxo Capital Markets
Saxo Capital Markets Pte Ltd is a wholly-owned subsidiary of Saxo Bank A/S, the Copenhagen-headquartered online trading and investment specialist. It serves as the Asia Pacific headquarters and holds a Capital Markets Services license from the Monetary Authority of Singapore. Saxo Capital Markets also holds a Commodity Broker licence from The International Enterprise Singapore.
Clients can trade Forex, CFDs, Stocks, Futures, Options and other derivatives via SaxoWebTrader and SaxoTrader, its leading multi-asset online trading platforms.
SaxoTrader is available directly through Saxo Capital Markets or through one of its institutional clients. White labelling is a significant business area for Saxo Capital Markets, and involves customising and branding of its online trading platform for other financial institutions and brokers.
About TPG Capital
TPG Capital is the global buyout group of TPG, a leading private investment firm founded in 1992, with US$48 billion of assets under management and offices in Beijing, Chongqing, Fort Worth, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, Paris, San Francisco, Sao Paulo, Shanghai, Singapore and Tokyo. TPG Capital has deep global financial services expertise with investments that have included Bank Thai, BTPN, Fidelity National Information Services, Korea First Bank, LPL Financial Services, Shenzhen Development Bank, Shriram City Union Finance and Taishin Holdings, among others. The Firm also has extensive technology experience with investments that have included Aptina, Hotwire, Intergraph, Lenovo, MEMC, Sabre Holdings, Seagate, SunGard, and Vertafore, among others. Please visit www.tpg.com for more information.
Media contacts:
Saxo Capital Markets Pte Ltd
Elaine Xu / Mychelle Chen
+65-6303-7718 / +65-6303-7712
xexu@saxomarkets.com.sg / xmyc@saxomarkets.com.sg
