The Australian Financial Review first reported on the bid on Feb 2. Syfe’s parent company, the Singapore-based Svava, has already acquired 43.4 million SelfWealth shares, representing 18.8% of issued shares.
Singapore-headquartered wealth management platform Syfe has made a bid to acquire Australia-listed brokerage SelfWealth for A$65 million ($54.70 million) in an all-cash transaction.
In a Feb 4 post on LinkedIn, Syfe confirmed media reports that it had submitted a non-binding indicative offer to acquire SelfWealth at a 12% premium over an existing offer by Australia-listed Bell Financial Group.
