Adds leading Argentine online broker to broad platform of client services
Buenos Aires, May 24, 2018 – Grupo Supervielle S.A. (NYSE: SUPV; BYMA: SUPV), (“Supervielle” or the “Company”) a universal financial services group headquartered in Argentina with a nationwide presence, announced today that it has acquired a 100% stock ownership of online trading platform InvertirOnline (“IOL”), through the purchase of a 100% stock ownership in both InvertirOnline S.A. and InvertirOnline.com Argentina S.A. for an aggregate purchase price of US$ 38.5 million, subject to customary adjustments.
Transaction terms include:
i) 240,000 nominative, non-endorsable ordinary shares with a par value of AR$ 100 each and entitled to 5 votes per share, representing 100% of the capital stock of InvertirOnline S.A.; and
ii) 80,451,077 nominative, non-endorsable ordinary shares with a par value of AR$ 0.01 each and entitled to 1 vote per share, representing 100% of the capital stock of InvertirOnline.com Argentina S.A.
“InvertirOnline is a world-class online trading platform, holding a top-five leading position in the Online Broker segment in Argentina, and a benchmark for the Fintech sector in the country. Consistent with our digital transformation strategy, this acquisition clearly represents a qualitative leap in the value proposition for our customers and extends significant new opportunities to the InvertirOnline customers who will become part of the Supervielle platform,” said Patricio Supervielle, President and CEO of Grupo Supervielle.
“Argentina has one of the highest rates of internet penetration in Latin America, and acquiring IOL will allow us to capture the significant growth potential in a market with one of the lowest market cap to GDP ratios in the region with this fee generating business,” continued Mr. Supervielle.
"We see excellent opportunities in the local financial market and in an increasingly competitive space and we believe that joining Grupo Supervielle will allow us to maintain our strong market position. This will also allow us to maintain a client centric approach while accelerating the development of new products to streamline the process of online trading," commented José Vignoli, CEO of InvertirOnline.
Founded in 1999, IOL has developed proprietary technology that will allow it to provide users with a secure, flexible and scalable trading platform. InvertirOnline has some 16,400 users, with AR$ 6.4 billion of assets under management. In the first four months of 2018, IOL captured 4% of the equity trading market and ranked 5th in terms of equity volumes traded. Furthermore, 15% of total equity transactions during 2017 were conducted through IOL's digital platform by retail investors. Over the past four years, the total effective volume of equities traded in Argentina has quadrupled according to ByMA-IAMC.