Euroz buys Blackswan Equities, issues 5.2m shares
Updated | Stockbroking and advisory firm Euroz has agreed to acquire Blackswan Equities, via the issue of 5.2 million Euroz shares, almost doubling the size of the latter’s private client dealing desk.
Euroz chairman Andrew McKenzie believes there is more consolidation to come among mid-sized stockbroking companies, but says Euroz will keep its powder dry after outlining plans to acquire fellow Perth-based firm Blackswan Equities.
Competition from the largest 10 brokers by trading share had abated as markets improved, but some mid-sized players would still struggle to remain viable, Mr McKenzie said.
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