HashKey proposes full acquisition of Singapore exchange operator APEX
HashKey Holdings Limited said its wholly owned subsidiary, HKDAG (Singapore) Pte. Ltd., has entered into a non-legally binding framework agreement with the major shareholders of Asia Pacific Exchange Pte. Ltd. and APEX itself for a proposed acquisition of all equity interests in APEX. The target operates financial market infrastructure in Singapore and holds a Monetary Authority of Singapore-recognized exchange license for derivatives trading, while its subsidiary Asia Pacific Clear Pte. Ltd. holds a recognized clearing house license. According to the company, only three institutions in Singapore currently hold both types of licenses under the city-state’s regulatory framework. HashKey said the proposed deal, if completed, would expand its institutional trading and clearing infrastructure and strengthen its regulated business presence in one of Asia’s core financial markets. The transaction has not been finalized and remains subject to definitive agreements and MAS approval. HashKey said no final documents have been signed and the required regulatory approval has not been obtained, meaning the acquisition may or may not proceed.
