The battle for control of listed brokerage Selfwealth (ASX: SWF) has expanded into three-way affair after the owner of the Syfe wealth management platform indicated it was willing to pay $65 million for a full takeover.
The indicative offer, pitched at 28c per share, is up from the already upsized 25c-per-share offer from Bell Financial Group (ASX: BFG) which has been recommended by the Selfwealth board.
The Singapore-based Svava Pte Ltd, which operates the Syfe platform in Singapore, Hong Kong and Australia, also has made the fight that much harder for Bell by scooping up 43.4 million Selfwealth shares, giving it a potential blocking stake of 18.8 per cent.
Bell, which launched its first salvo for Selfwealth in November valuing the company at $51 million, was trumped by a rival $58 million bid from AxiCorp Financial Services, a Sydney-based global online brokerage group which was prepared to pay 23c per share.
Despite Svava lobbing an indicative bid of 28c per share, the Selfwealth board is sticking to its guns on Bell Financial’s latest offer of 25c per share – for now at least.
(this is slightly dated news)
edit: sounds like SelfWealth is currently preferring this offer, see email in comments
Isn’t there a new cheaper share platform these days?
Aren’t selfwealth kinda crappy for us/international share trading?
tbh i like betashares direct, the interface alone is light years ahead of selfwealth
Has anyone used both Syfe and Selfwealth? How do they compare? Is this going to be a case of buying up a competitor and then pushing all their customers over to a shittier platform?
Full copy of the email to customers, the relevant part is under “seamless experience” (which raises the question of why they want to buy SelfWealth for >2x market value)
Dear Investor,
As a valued Selfwealth customer, we want you to be among the first to receive any communication regarding important updates for our company and the investing platform you know and trust.
As you may now be aware, on 26 February 2025, SelfWealth Ltd (ASX:SWF) entered into a scheme implementation deed under which Svava Pte Ltd (“Syfe”) has agreed to acquire 100 per cent of the shares in Selfwealth that it does not already own, by way of a scheme of arrangement.
Throughout the Asia Pacific region, Syfe has built a trusted home for more than 250,000 savers and investors, offering share trading services, savings solutions, and fully managed investment portfolios.
Syfe’s investment expertise, technological excellence, and global institutional relationships are expected to serve as catalysts for Selfwealth’s growth following implementation of the transaction, enhancing the digital investing experience for customers across Australia.
What Stays the Same, and What’s Coming Next… a Better Investing Experience with the Same Selfwealth You Trust.
Seamless Experience If the transaction with Syfe is implemented, your Selfwealth account and how you currently invest is expected to remain the same. Rest assured, you will continue to have uninterrupted access to the platform with all the features you know and love remaining as usual.
Expanded Product Offerings If the transaction with Syfe is implemented, over time, we expect to introduce new products, including:
- Savings solutions delivering regular income.
- Managed portfolios to help you achieve life’s most important financial goals.
- An enhanced trading experience with access to more markets and tools to support smarter investing.
Transparent and Affordable Fees We know how important transparent and affordable fees are to you. If the transaction with Syfe is implemented, we do not anticipate making any increase in any of your current fees or charges.
User-Centric Innovation Selfwealth and Syfe share a common vision—putting consumer needs first. Following implementation of the transaction, Syfe’s cutting-edge technology and deep investment expertise will help us continue to deliver a platform that prioritises security, ease of use, and value. Together, we will keep innovating to make your investment journey more intuitive and rewarding.
We’re excited about this new chapter and building for those who matter the most, you, our clients. With Syfe’s support following implementation of the transaction, Selfwealth will continue to evolve, bringing you even more ways to grow your wealth while maintaining the best-in-class safety and reliability of the platform you trust and rely on.
Implementation of the transaction remains subject to various conditions, including Selfwealth shareholder and Court approval, with a shareholder vote anticipated to be held by the end of April 2025.
We look forward to keeping you informed on this and any further developments.
Kind regards,
Craig Keary Selfwealth CEO
