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Aktiedirekt's own equity amounts to approximately SEK 55 million. The acquisition provides considerable improvements for TeleTrade Solutions to rapidly achieve good profitability, as well as increased possibilities of continued strong growth.
Danske Securities acted as mediator and advisor in connection with the acquisition. The number of active accounts will increase to approximately 24, with a managed capital of about SEK 5.
The market share of transactions on the Stockholm Stock Exchange in August amounted to approximately 3. Income for the TeleTrade Group during the first six months of , pro forma including Aktiedirekt, amounted to approximately SEK 90 million. Based on transaction volumes during the first six months of , cost savings and other effects, the acquisition of Aktiedirekt, following full integration, is expected to result in a positive annual effect on net profit before goodwill and tax of SEK million per year, or approximately SEK 0.
AD Aktiedirekt. Aktiedirekt is an Internet broker that manages share trading via the Internet. Active accounts number approximately 9,, with managed capital of around SEK 3. The market share of transactions on the Stockholm Stock Exchange amounted to 1. Aktiedirekt's customers have a different average structure to that of TeleTrade Solutions' customers in terms of age, sex and business behaviour, and this is considered to be of an advantage to TeleTrade's business.
Aktiedirekt offers online trading in Swedish shares and warrants, trading in US shares, information services, account services and lending against securities. During the first six months of , revenues amounted to approximately SEK 28 million, with a loss of around SEK 2 million. Marketing costs amounted to approximately SEK 12 million during the period. Shareholders' equity amounts to around SEK 55 million and the number of employees is Aktiedirekt's customers During the integration of Aktiedirekt with TeleTrade Solutions, Aktiedirekt's customers will at the very least have access to Aktiedirekt's present range of services, level of service and performance.
Motives for the acquisition of Aktiedirekt Internet brokerage is based on economies of scale and significantly reduced marginal costs per new customer. Technical developments, developments of services and the internationalisation of share trading increases the demand for volumes.
Competition within Internet brokerage in Sweden is tough and the market is over-established. Structural changes are unavoidable.
With the acquisition of Aktiedirekt, TeleTrade Solutions will rapidly obtain the critical amount of customers that is needed in order to achieve economies of scale and a more long-term level of profit. TeleTrade Solutions will create a stronger platform for continued growth and profitable expansion and become one of the absolute largest Internet brokers in Sweden.
TeleTrade Solutions' goal is to become the largest Internet broker in the Nordic region via organic growth and acquisitions. Purchase price and financing The purchase price for Aktiedirekt amounts to a total of SEK million, of which SEK million is proposed to be paid in the form of a non-cash issue of 8 million TeleTrade shares at a subscription price of SEK The cash payment will initially be made in the form of a promissory note.
The acquisition of Aktiedirekt will give rise to goodwill of about SEK million, based on a historical average share price for the TeleTrade share plus costs in connection with the acquisition, which will be written off over a ten-year period.
TeleTrade's acquisition of Aktiedirekt and Nordiska's subscription to shares in TeleTrade in connection with the non-cash issue are dependent on approval from Finansinspektionen the Financial Supervisory Authority , and the decision concerning the non-cash issue to be taken at an extraordinary general meeting. The extraordinary general meeting is expected to take place on 25 September, with notice to be published on 11 September.
After the non-cash issue, the number of outstanding shares in TeleTrade will amount to Nordiska's holdings in TeleTrade shares will be reported per associated company since the share holding is of a capital investment nature.
In line with this, Nordiska will not be an active owner within TeleTrade. Synergy effects and merger costs The synergy effects between Aktiedirekt and TeleTrade Solutions are estimated to be considerable and to lead to significantly improved profitability.
Aktiedirekt and TeleTrade Solutions already have the same suppliers and collaboration partners within many areas, and this is expected to simplify the integration work and to reduce costs. Based on the first six months of , and with everything else remaining the same, positive income contributions of SEK million per year before amortisation of goodwill and taxes are expected. Dynamic effects are also expected from the fact that Aktiedirekt's customers do not have access to online trading in options and futures at the moment, while TeleTrade is the market leader in terms of the options market.
TeleTrade also offers trading in mutual fund shares. Integration and merger costs during the fourth quarter are assessed to amount to approximately SEK 10 million. The TeleTrade Group The TeleTrade Group offers financial services mainly via the Internet within securities trading, insurance brokerage and information.
Shares, warrants, options, futures and funds can be traded in a number of ways adapted to both advanced and simpler requirements. TeleTrade has been ranked as number one within Internet brokerage on several occasions and is among the largest Internet brokers measured in number of transactions on the Stockholm Stock Exchange. It is the largest player on the options market. Aktiedirekt's customers will gain a service with more content at a lower price. The number of active accounts will amount to approximately 24, with managed capital amounting to around SEK 5.
Operations have been up and running since and represent the majority of Swedish insurance companies on the Swedish market within both non- life and life insurance. During September to October , a market-leading Internet service for insurance brokerage is planned to be launched. VCW operates Sweden's absolute largest discussion forum for shares. The advertising market on the Internet is experiencing rapid growth and VCW's advertising revenues during are expected to increase considerably compared with Personnel The number of employees within the TeleTrade Group before the acquisition of Aktiedirekt amounts to persons.
The number of employees within Aktiedirekt amounts to 22 persons. The integration and merger work is expected to a large extent to be carried out during the fourth quarter, and all employees will be offered positions in the merged company TeleTrade Solutions or in Nordiska Fondkommission. Operations are conducted in four business areas - Transactions, Information, Insurance and Ventures. Insurance business is conducted by TeleTrade e-Insurance, Sweden's largest insurance broker for private individuals.
The Ventures business area is responsible for ownership holdings that have been obtained in exchange for marketing and media services on www.
With so many different types of online stock brokers available to investors, it can be tough to choose one that works best for you. That's why we put these. Financial Services Company, Low cost and best execution; advanced technology; and direct market access to stocks, options, futures, forex, fixed income, ETFs.
On the World Wide Web WWW , an increasing number of new trading forms for brokerage of business transactions are emerging. Almost inevitably, central contactpoints on the WWW are being formed, so-called virtual marketplaces, where supply and demand meet. The organisation they require is carried out by a central operator, who offers his brokerage services on a business footing. The aim of this paper is the generation of practical components of a Management Information System MIS for such marketplaces that are only accessible online.
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Aktiedirekt's own equity amounts to approximately SEK 55 million. The acquisition provides considerable improvements for TeleTrade Solutions to rapidly achieve good profitability, as well as increased possibilities of continued strong growth. Danske Securities acted as mediator and advisor in connection with the acquisition.
TeleTrade acquires the Internet broker Aktiedirekt
Get access to all our content — subscribe today 30 day free trial. It's more of a family business than anything else. Yet despite this, we won first place for volume. Gavrilenkov knows he can't compete with such houses as UBS or Troika in some aspects of investment banking. But in order to survive, we had to be aggressive.
E*TRADE ranked top global Internet broker
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E-mail trading posts list an announcement from six companies looking for either new international trade or business contacts. Internet Brokers has a connection, usually at the executive level, with each company placing an announcement on e-mail trading posts.
