Boston International Holdings (BIH) is a special purpose acquisition company (SPAC) listed on the standard segment of the official list, with shares traded on the main market of the London Stock Exchange, which is seeking to acquire a business operating in the foreign exchange (FX) sector. Following the acquisition, BIH intends to seek re-admission of the enlarged group to trading on the London Stock Exchange or admission to another stock exchange.
The FX market is the world’s largest financial services market with $5.1 trillion traded globally every day. The UK market is the largest contributor and is responsible for half the daily global volume. Over the past 20 years, innovation in technology, greater transparency and increasing trade volumes have all led to progressive market evolution. Along with this evolution the market has also become highly fragmented and now presents opportunities for sector consolidation.
1 Source: BIS Triennial Central Bank Survey, 2016
BIH recognises that the FX sector presents a number of acquisition opportunities due to it being fragmented and the potential impact of new regulation, and is looking at targets across the whole FX value chain. Following the initial acquisition, the Company will seek to operate the acquired business and implement an operating strategy with a view to generating value for shareholders through operational improvements as well as potentially through additional complementary acquisitions. In summary, BIH is looking for a company with the following investment criteria: