London-listed investment banks Cenkos Securities and finnCap Group are in advanced talks to merge in an all-share deal that will create the City’s biggest dedicated broker serving small-cap growth companies, Sky News reported on Wednesday.
The merger could be announced as soon as Thursday morning, the report said, without adding further details on the deal.
Both Cenkos and finnCap have similar market capitalizations, at around 21.1 million pounds ($25.89 million) and 21.05 million pounds, respectively, according to Refinitiv Eikon data.
Cenkos and finnCap did not immediately respond to requests for comment.
Source: Reuters.com