DB1 Deutsche Boerse AG

By Chris Wack

Forge Global Holdings Inc. shares were up 14% to $4.44 after the company said it was expanding internationally with its strategic partner, Deutsche Boerse.

Forge Europe will use Forge's technology and expertise, and Deutsche Boerse's market and regulatory knowledge and networks to establish a digital marketplace for European companies and investors that provides access to Forge's U.S. liquidity network.

Forge Europe will provide liquidity programs for companies, a marketplace that brings together buyers and sellers of private growth company shares and exclusive private market data that enable investors to make informed investment decisions.

Forge Europe is targeting its launch in mid-2023, first in Germany, the U.K. and France, before expanding to the rest of Europe, subject to the requisite regulatory approvals. It will offer a tech-enabled online platform to facilitate secondary transactions in private growth companies across Europe by bringing together private company shareholders, such as founders, employee shareholders and early-stage investors, and interested professional investors.

The initial product offering includes company liquidity solutions, which will efficiently structure, manage and administer secondary transactions for private growth companies, as well as facilitating transactions between buyers and sellers directly. European private market participants will be able to access Forge's global private market data and analysis. In its second phase, Forge Europe will offer a digitized software solution providing access to its transaction marketplace to private market participants.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

September 08, 2022 11:42 ET (15:42 GMT)

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