FOR IMMEDIATE RELEASE
NEW YORK, NY (June 20, 2019) – GlobEx Markets Ltd, a global distributor of financial data and market information, today announced that it signed a non-binding Letter of Intent (“LOI”) with an investor group from the United Arab Emirates for 20 percent of GlobEx Markets total shares outstanding.
Additional details of the transaction will be released following a 60-day period of due diligence by both parties. The LOI follows an earlier announcement by GlobEx Markets that disclosed plans for global expansion.
Initial office expansion is being targeted in Europe, Asia and the Middle East with the first planned office launch taking place in London during the 4th quarter 2019. The local presence in these markets will support GlobEx Markets rapid global growth plans.
Michael Defosse, GlobEx Markets Chairman and Chief Executive, said, “The capital raised in this agreement allow GlobEx Markets the ability to fast track our global expansion plans. We are looking forward to the partnership with the investor group as we build GlobEx Markets into a global leader in financial information.”
Founded in 2016, GlobEx Markets Ltd is a global distributor of financial data and market information, providing knowledge and access to global exchanges, investment brokers and investing opportunities. Headquartered in New York, NY, the principal office is located on Wall Street in the financial district.
Robert Moore, Media Relations