Forge Global Shares Rise 14% After Plans to Expand Internationally
September 08 2022 - 11:57AM
Dow Jones News
By Chris Wack
Forge Global Holdings Inc. shares were up 14% to $4.44 after the
company said it was expanding internationally with its strategic
partner, Deutsche Boerse.
Forge Europe will use Forge's technology and expertise, and
Deutsche Boerse's market and regulatory knowledge and networks to
establish a digital marketplace for European companies and
investors that provides access to Forge's U.S. liquidity
network.
Forge Europe will provide liquidity programs for companies, a
marketplace that brings together buyers and sellers of private
growth company shares and exclusive private market data that enable
investors to make informed investment decisions.
Forge Europe is targeting its launch in mid-2023, first in
Germany, the U.K. and France, before expanding to the rest of
Europe, subject to the requisite regulatory approvals. It will
offer a tech-enabled online platform to facilitate secondary
transactions in private growth companies across Europe by bringing
together private company shareholders, such as founders, employee
shareholders and early-stage investors, and interested professional
investors.
The initial product offering includes company liquidity
solutions, which will efficiently structure, manage and administer
secondary transactions for private growth companies, as well as
facilitating transactions between buyers and sellers directly.
European private market participants will be able to access Forge's
global private market data and analysis. In its second phase, Forge
Europe will offer a digitized software solution providing access to
its transaction marketplace to private market participants.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
September 08, 2022 11:42 ET (15:42 GMT)
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