Finexia acquires Everblu’s stockbroking and trading team
Publicly-listed independent private credit specialist, Finexia Financial Group has entered into an agreement to acquire Everblu Capital’s equity stockbroking and trading team.
Finexia announced the move to the Australian Securities Exchange (ASX) stating that the Everblu team of brokers would operate under the Finexia brand and be integrated into Finexia’s existing business.
Finexia chief executive, Patrick Bell said the Everblu acquisition was very complementary to the firm’s existing Sydney-based broking business.
“The Everblu acquisition offers several accretive benefits to our business whilst remaining aligned with our overall core strategy of Private Credit and Funds Management,” he said.
The ASX announcement said that Everblu Capital Corporate, the Corporate Advisory arm of Everblu Capital was not being purchased and would continue to operate completely separately.
The transaction involves a total potential consideration of $1.1 million of which $600,000 is being paid upfront comprised of $200,000 in fully paid ordinary shares in Finexia, $200,000 in cash and $200,000 invested in Finexia products.
So what happened with the AFP raid on EverBlu, and their shonky dealings? Of course ASIC nor the ASX do anything about that and the corporate pirates and “lifestyle directors” operating in micro cap land on the ASX. ASIC is too busy focusing all their attention on financial advisers.