Complii Fintech (ASX:CF1) has announced it is buying private company trading platform PrimaryMarkets.

PrimaryMarkets primarily allows secondary trading of securities of unlisted companies. It also assists companies with capital raising endeavours and share registry requirements.

Its revenues come from fees such as trading fees, administration fees and listing fees.

The deal will be paid for in shares and will result in Complii’s shares on issue rising by 105 million – worth $5.88 million at today’s share price. It will be voted on at Complii’s Annual General Meeting, scheduled for October 26.

Both companies’ boards have unanimously backed the bid and PrimaryMarkets founder Gavin Solomon will join Complii’s board.

The deal comes just under a year since Complii, then known as Intiger Group, acquired the Complii regtech solution that led to its current name.

Complii aims to do away with paper-based compliance functions for stockbrokers and financial planners.

Shares in the company rose nearly 10% off the back of this morning’s news.

Complii (ASX:CF1) share price chart

 

Which other ASX stocks are in this space?

While there are few, if any, other ASX stocks with a direct investment in a private company trading platform such as PrimaryMarkets, there are others indirectly offering exposure to private companies.

Some of these are ASX LICS (Listed Investment Companies) including Salter Brothers Emerging Companies (ASX:SB2) and WAM Alternative Assets (ASX:WMA).

Additionally there are another handful of stocks that run trading platforms for companies which are already publicly listed.

These include Raiz (ASX:RZI) and Domacom (ASX:DCL) which both enable fractional investing primarily in shares although the latter also enables fractional property investing.

There’s also the NSX (ASX:NSX), Australia’s secondary trading market which trades publicly on the ASX.

And there’s no shortage of trading platforms that aren’t listed on the ASX in their own right.

One such platform is Stake, which since 2017 has offered US shares to Australian investors but is about to launch a solution for ASX shares.

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