Saxo Bank Launches Review with Goldman Sachs Guidance

Saxo Bank has announced that its shareholders have decided to “initiate a review of opportunities” with Goldman Sachs as their financial advisor. This review aims to provide Saxo with a solid foundation for continued growth, enhanced client service, and further development of its employees and company culture.

To assist with this strategic review, Saxo Bank and its shareholders have appointed Goldman Sachs as their financial advisor. This move typically signals a potential exit strategy for the shareholders, possibly involving either a merger and acquisition (M&A) sale, an initial public offering (IPO) on a major stock exchange, or a combination of both until a final decision is available.

Previously, in April, Saxo Bank was exploring investment banking advisors to potentially facilitate a sale of the company. Geely Group and Mandatum, which are Saxo’s main external shareholders, have expressed their interest in exiting their investments in the bank.

Saxo Bank Launches Review with Goldman Sachs Guidance

In 2022, Saxo Bank attempted to go public through a merger with a special purpose acquisition company (SPAC) listed on Euronext Amsterdam. The proposed deal, valuing Saxo Bank at approximately €2 billion, was going to offer liquidity to Geely and Sampo (which later transferred its stake to Mandatum). However, the transaction was subsequently withdrawn.

Goldman Sachs, renowned as one of the top investment banking firms globally, will face a challenging task, especially if the shareholders are aiming for a valuation close to the €2 billion target from the 2022 IPO attempt.

Company Overview

Saxo Bank stands out as a premier multi-asset broker, offering exceptional research capabilities and an exceptional trading platform, along with an impressive array of over 70,000 tradable instruments, which include spot forex, FX options, NDFs, CFDs, stocks, stock options, exchange-traded funds, ETNs, futures, and 33,000 bonds. For engaged traders, Saxo Bank offers a comprehensive and immersive trading journey, boasting an extensive toolkit, research resources, and premium features.

Discover more in our Complete Review.