Australian stock transfer agency Computershare is reportedly among several firms interested in acquiring UK-based fintech company PrimaryBid, which was placed on the market earlier this year.
Once touted as a potential British unicorn, PrimaryBid reached a valuation exceeding $500 million in 2022, buoyed by the surge in retail stock trading during the pandemic. However, the value of the company has plummeted in light of a significant downturn in equity market activity. Notably, one of its shareholders, LSEG, downgraded the value of its 7.2% stake in March, bringing PrimaryBid’s current valuation to approximately $56 million.
Around this time, PrimaryBid initiated talks regarding a potential sale following inquiries from interested buyers. The company has since made adjustments to its UK operations and scaled back its regulated activities. Additionally, reports from SkyNews in March indicated that PrimaryBid was considering a partnership with LSEG to license its capital-raising technology.
Current reports suggest that Computershare has shown keen interest in the retail investment platform, along with various investment banks and market infrastructure organizations.