Richard Carleton, Canadian Securities Exchange CEO, at his Toronto office on Nov. 1, 2017. Mr. Carleton said the CSE has been interested in buying the NSXA for 15 years.Michelle Siu/For The Globe and Mail
Canada’s junior stock exchange is buying its much smaller Australian counterpart in hopes of replicating its domestic growth in the Land Down Under.
CNSX Markets Inc., the parent company of the Canadian Securities Exchange, announced plans late Sunday to acquire NSX Ltd., the operator of the National Stock Exchange of Australia. The all-cash transaction is quite small – at 3.5 Australian cents per share, it values the NSXA at roughly 16-million Australian dollars ($14.4-million) – though it is noteworthy for being the CSE’s first acquisition since it launched in 2003.
“There is a tremendous opportunity for these guys to do exactly what we did in Canada,” CSE chief executive officer Richard…
