INTERNATIONAL: CSE to Acquire NSXA

Thursday May 22 2025

On 18^th May 2025, the Canadian Securities Exchange (CSE) announced that it has entered into an agreement with NSX Limited (ASX:NSX), parent company of the National Stock Exchange of Australia (NSXA), to acquire, pursuant to a Scheme of Arrangement, NSX for all-cash consideration of AUD$0.035 per fully paid ordinary share. The price represents a 59% premium to the closing price of NSX’s ordinary shares on May 16, 2025, the last day of trading prior to this announcement. Under the Scheme, CSE will acquire approximately 95.2% of the ordinary shares, having acquired approximately 4.8% of the ordinary shares in NSX on May 7, 2025.

This acquisition enables the CSE to expand its geographic footprint by partnering with an exchange that has a similar focus and culture. Like the CSE, the NSXA is primarily focused on early stage, entrepreneurial companies, with particular strength in the resource sector. The NSXA is positioned to disrupt a market currently dominated by an incumbent, legacy exchange, as the CSE was over 20 years ago.

The NSXA will continue to be operated locally by its management team, each member having deep expertise in the exchange space. With the support being provided by the CSE, the NSXA will be better able to offer a credible and service-oriented alternative for the capital formation and liquidity needs of emerging companies in Australia and beyond.

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